CHAPTER NINE: REFORM
byWhy Reform? Imagine a world where huge amounts of money are created out of nothing for private profit and destroyed again once profit is…
Central Banking
Money out of “thin air” and economic cycles
byAccording to the Nobel Laureate in Economics, Milton Friedman, the root of the business cycle is the fluctuations in the growth rate of money…
The importance of randomness
byThe greatest strength of a truly free market economy, where money is sound and does not corrupt prices, is the absence of cyclical action….
The World’s Central Banks Are Frozen with Fear
byBy Ryan McMaken 2016 was supposed to be the year that the Federal Reserve “normalized” its policies. As much as two years ago —…
Expected Losses are Not Baked into the Risk Weights
byBy Tim Bush and Kevin Dowd On December 15th 2015 there was an interesting exchange on the Treasury Committee between Steve Baker MP…
Treascomm Submissions for “Effectiveness and impact of post-2008 UK monetary policy”
byBelow are the submissions from Cobden Centre contributors on the “Effectiveness and impact of post-2008 UK monetary policy” for the Treasury Select Committee. Publications: https://www.parliament.uk/business/committees/committees-a-z/commons-select/treasury-committee/inquiries1/parliament-2015/post-2008-uk-monetary-policy-16-17/publications/…
Does the existence of unemployed resources justify easy money?
byOnce an economy falls into recession many commentators tend to express concern that as a result of the economic slump there are now…
Breaking the chain
by“Wherever there’s injustice, oppression and suffering, America will show up six months late and bomb the country next to where it’s happening.” From Give…
Business cycles are credit cycles
byThis article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
Rapid money growth and inflation – is there a connection?
byIn the article “Rapid money supply growth does not cause inflation” written by Richard Vague at the Institute for New Economic Thinking, December 2,2016…