Fungibility: The Legal Fiction at the Heart of Modern Money
byFrom gold to government IOUs—the quiet revolution in what money means By Elias Sanchez Ask someone what money is, and they’ll likely gesture to…
Economics
The Economic Success of Singapore and Hong Kong
byBy Lipton Matthews Bryan Cheang’s Economic Liberalism and the Developmental State is a timely and intellectually daring book that enters the long-standing debate over the East…
After 50 Years of US-Government-Sponsored Housing Finance: Why Are Houses So Unaffordable?
byBy Alex J. Pollock [This article was originally published in Housing Finance International.] After more than fifty years of US government-sponsored housing finance, Why has…
Financialisation as Statecraft: A Quiet Engine of Boom, Bust, and Wealth Transfer
byAustrian insights from the lecture hall—on DSGE models, fractional-reserve banking, and the quiet architecture of boom and bust During my master’s programme at the…
The Myth of Rational Economic Design: Bolivia’s Slide into Hydrocarbon and Dollar Crisis
byBy Elias Sanchez Throughout history, policymakers have repeatedly fallen prey to what Friedrich Hayek termed the fatal conceit—the belief that social and economic orders…
The New Mercantilism and Economic Armaments
byThe reelection of Donald Trump to the American presidency has seemingly brought bought a radical disruption to the political, social, and economic status quo…
Do financial markets have superior knowledge?
byBy Dr Frank Shostak We suggest that what is labelled as financial markets are various individuals engaged in the buying and selling of financial…
The Optimal Supply of Money: A Simple Argument
byBy Paul F. Cwik As an economist, I am often asked how fast the money supply should grow. The answer is simple: it shouldn’t….
Donald Trump’s Trade Fallacies
byDonald Trump has said more than once that the most beautiful word in the dictionary is “tariff” and that it is, in fact, his…
Why recessions are not about declining GDP?
byBy Dr Frank Shostak Most economic commentators consider a weakening in economic statistics such as gross domestic product (GDP) as indicative of a weakening…