40 years later: Mises’s lasting legacy
byEach year in early October, the world looks to Sweden and Norway, where the annual Nobel Prize winners are announced in the fields of…
Economics
The four words that define western economic policy
by“The goods and services traded on the semi-secretive website Silk Road since February 2011 with the virtual currency Bitcoins were so varied that the…
The 80/20 rule
byRecent statistics are confirming “economic recovery” in the UK and even some of the weaker eurozone states. I put this in quotes, because what…
The unstoppable growth of US money supply
byAfter all the fuss about tapering, it is worth remembering that central banks can and do expand the money quantity without quantitative easing. Put…
Central bank balance sheets
byNow that there is growing evidence of GDP growth, we must consider a new topic: the likely effect on central bank balance sheets, using…
Taper (where?) party
by“This took guts.” – Comment by Steven Ricchiuto of Mizuho Securities in response to the Federal Reserve’s surprise decision to refrain from “tapering” its…
Monetary inflation prospects
byOn Wednesday last the Fed surprised most people by deciding not to taper. What is not generally appreciated is that once a central bank…
No tapering, no surprise
byIt was not too surprising that there is going to be no tapering for some very good reasons. The commencement of tapering would have…
Fed’s tightening and economic activity
byOn September 17-18 US central bank policy makers are likely to decide on the reduction in their monthly purchases of bonds by between $10…
In defence of ‘demand’ deposits
byI owe a debt of obligation to my fellow Cobdenites for kickstarting a debate about money and banking amongst the UK Austrian community. As…