Does subjective valuation mean arbitrary valuation?
byWhy do individuals pay much higher prices for some goods versus other goods? The common reply to this is the law of supply and…
Economics
The Relevance Of Hayek’s Triangle Today
byMost of us are aware of the inflationary pressures in the major economies, that so far are proving somewhat latent in the non-financial sector….
Savings as the engine of economic growth
byMost economists concur with the view that what keeps the economy going is consumption expenditure. Furthermore, it is generally held that spending rather than…
Monetary Fallacies and Inflationary Bubbles
byLooking to the next few years ahead, is America and the world going to continue riding a wave of economic growth, improving standards of…
Robots, employment and the mis-measurement of productivity
byUK productivity – output/hour has risen 1.5% in a decade UK unemployment, at 4.2%, is the lowest since April 1975 UK real-wages have risen…
Consumer Demand Does Not Lead to Jobs and Output
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…
May Day
by“Japan was the dress rehearsal; the rest of the world will be the main event.” Investor in Japanese stocks, known to this correspondent, circa…
Does it matter whether assumptions in economics are arbitrary?
byVarious assumptions employed by mainstream economists appear to be of an arbitrary nature. The assumptions seem to be detached from the real world. For…
The Heat Death of the Economic Universe
byPhysicists say that the universe is expanding. However, they hotly debate (pun intended) if the rate of expansion is sufficient to overcome gravity—called escape…
The Worst Man In Modern History
byIt seems extraordinary that in defiance of all factual history and philosophical knowledge anyone should celebrate the bicentenary of the birth of Karl Marx….