Chapter 9: Reform
Anyone reading this probably already feels that reform would be a good idea. On paper, reform would be a simple matter: merely cancelling unjust…
Read MoreCentral Banking
Economic stability and economic growth
During the period 1920 to 1960, we can observe that the annual growth rate of production was more volatile than between the…
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Debasing the Baseless – Modern Monetary Theory
Populist politicians are turning to Modern Monetary Theory Fiscal stimulus has not led to significant inflation during the last decade MMT is too…
Read MoreChapter 8: Negotiable Debt, A Bit of History
This chapter is a quick summary and clarification of what happens when debt becomes negotiable. The focus is on money, but other…
Read MoreCentral Banking Is Central Planning
At a time when the appeal of and demands for a new “democratic” socialism seem to have caught the imagination of many among the…
Read MoreInterview with Professor Joachim Starbatty MEP
Professor Joachim Starbatty is a member of the European Parliament. He kindly hosted our event “The Lessons of Economic History” earlier this year. Here…
Read MoreHow Asset Inflation Will End — This Time
Life after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well…
Read MoreChapter 6: America, Won and Lost.
After the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
Read MoreDon’t be so negative
“FED’S WILLIAMS SAYS IN A DOWNTURN WE COULD CONSIDER QUANTITATIVE EASING, NEGATIVE RATES.” Tweet by Reuters’ Jennifer Ablan, reporting on a speech by…
Read MoreImportance of model building in economics
In the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
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