Can we ascertain the facts of reality in economics by means of mathematics?
byIt is generally held that by means of statistical and mathematical methods one can organize historical data into a useful body of information, which…
Economics
Homos Economicus: a Largely Irrational Animal
byOr ‘How Expected Utility Theory was Successfully Challenged by a Nobel Prize-winning Hypothesis’ By Jessica King 2002’s Nobel prize-winning economist Daniel Kahneman wrote…
A Brief (and Messy) History of Modern Gold Standards
byMarcia Christoff-Kurapovna Although gold prices hit a new high in mid-January, Americans, by and large, are still reluctant about gold. They don’t quite “get it.” This…
Why perfect competition is not so perfect
byAccording to the popular view, a proper competitive environment must emulate the perfect competition model. In the world of perfect competition, a market is…
Central Banks Put a Safety Net Under Financial Markets
byMost early business cycle indicators suggest that the global economy is pretty much roaring ahead. Production and employment are rising. Firms keep investing and…
Artificial intelligence
by“Sir, I think that I have at long last identified why the National Health Service is experiencing high levels of patient pressure, especially…
Money and the stock market: is there any relation?
byIs it true that changes in money supply are an important driving force behind changes in the stock price indexes? Intuitively it makes sense…
The risk of a correction in the equity bull market
byRising commodity prices, including oil, are feeding through to PPI Unemployment data suggests wages may begin to rise faster Federal Reserve tightening will continue,…
Is the fall in prices bad news?
byContrary to the popular way of thinking, we suggest that there is nothing wrong with declining prices. What signifies industrial market economy under a…
Capitalism and How Expectations Coordinate Markets
byOpen, competitive markets have a resilient capacity to successfully coordinate the actions of, now, billions of people around the world. With an amazing adaptability…