Welcome to the world of ZIRP zombies
byInterest rates in the US, Europe and the UK were reduced to close to zero in the wake of the Lehman crisis nearly seven…
Economics
The Economy is in Liquidation Mode
byIf you’re an American over a certain age, you remember roller skating rinks (I have no idea if it caught on in other countries)….
Yield Purchasing Power: $100M Today Matches $100K in 1979
byI wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to…
Gibson’s paradox: the consequences
byWe now have an explanation for Gibson’s paradox (posted here), a puzzle that has defeated mainstream economists from Fisher to Keynes and Friedman. The…
Eugen von Böhm-Bawerk: That 70s Show – episode 1
byFrom Eugen von Böhm-Bawerk’s blog. Source: http://bawerk.net/2015/08/05/that-70s-show-episode-1/ In several articles we have shown how the world changed from the 1970s with the breakdown of the old…
Still dancing?
by“Bubbles are the only things that matter. The rest of it is boring. You show up for work, markets are at normal levels, and…
The German Miracle vs. the Welfare State
by[Editor’s Note: The following is by Ludwig Erhard, one of the most important economists of the twentieth century and mastermind of the German economic…
The Only Form of Permanence
byPerhaps the first great lesson of economics, as emphasized by Henry Hazlitt, is that there is no free lunch. The second, courtesy of Frederic…
All out of bubblegum
by“I have come here to chew bubblegum and kick ass. And I’m all out of bubblegum.” – ‘Nada’ (Roddy Piper) in the film ‘They…
Ryan Streeter: Uber is just the tip of the iceberg
byUber’s battle with New York City mayor Bill de Blasio, which culminated this week in a temporary truce while the city “studies” Uber, shines…