Money demand and banking – some challenges for the “Free Bankers”
byWithin the Austrian School of Economics there has long been disagreement and therefore occasionally fierce debate about the nature and consequences of fractional-reserve banking,…
Economics
Hooray for Hollywood!
byIn Europe, the picture on one side of the banking balance sheet remains one of shrinking credit (more especially of the productive, private sector…
The wrong kind of consumption
bySince our last attempt at a textual analysis of where the economic pain threshold lies for China’s rulers, the intervening period has been punctuated…
Mark Carney’s grand experiment began today
byI was grateful to the BBC World at One programme for giving me the opportunity today to comment on Mark Carney’s first Inflation Report….
Price inflation approaching
byThere is some evidence in the UK of a pick-up in consumer spending, probably echoed elsewhere. There are two likely factors behind this, the…
Still waiting
by“This suspense is terrible. I hope it will last.” – The Hon. Gwendolen Fairfax in ‘The Importance of Being Earnest’ by Oscar Wilde. The…
Untangling gold at the Bank of England
byFrom 2006 the Bank of England’s Annual Report has declared the quantity of gold in its custody, including the UK’s own 310 tonnes. Prior…
Mises’ monetary theory compared to other theories
byLots of people talk about “The” Quantity Theory of Money and “The” Equation-of-Exchange. The terms have a familiar feel to them, they’re part of…
Time and Money
byContinued from Et in Arcadia ego Here we come full circle, for what this essentially presumes is that there exist no means by which to…
Et in Arcadia ego
byContinued from Been there, done that, bought the T-shirt Having broadly tried to demonstrate where we differ from our rivals and where we find their…