The Blockchain Is a Tempting Target for Central Banks
byFor the past several years, one of the most consistent themes in the world of of central banking has been the ongoing drive to…
Economics
The Fed and interest rates
byMost experts agree that through the manipulation of short-term interest rates, the central bank by means of expectations regarding future interest rate policy can…
Speaking truth to power
by“Ron Steigler: Mr. Gardner, uh, my editors and I have been wondering if you would consider writing a book for us, something about…
Does a fall in unemployment lead to stronger economic growth?
byIn July, the US unemployment rate fell 0.1% from the month before to 3.9%. The number of unemployed individuals fell by 284,000 to 6.280…
Macroeconomics Has Lost Its Way
byThe father of modern macroeconomics was Keynes. Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and…
Some Confusions of Language in Economic Thought
byFifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought [4]. Hayek…
The Case Against Antitrust
byBy Jai Khemani Jai recently got 2 A*s and an A in his A levels and is now looking forward to university. Jai is particularly…
Can deflation undo the damage of inflation?
byIn our various writings, we have suggested that loose monetary policy of the central bank, which amounts to the lowering of interest rates and…
Zero Hedge — Bank of America: These Are The 6 Triggers For The Next Market Crash
byWith the S&P just one big short squeeze away from all time highs and Q2 earnings for the most part blowing away expectations, the…
Why the policy of price stability weakens the process of real wealth formation
byThere is almost complete unanimity among economists that the most important role of the central bank is to attain price level stability. It is…