Chapter 8: Negotiable Debt, A Bit of History
byThis chapter is a quick summary and clarification of what happens when debt becomes negotiable. The focus is on money, but other…
Central Banking
Central Banking Is Central Planning
byAt a time when the appeal of and demands for a new “democratic” socialism seem to have caught the imagination of many among the…
Interview with Professor Joachim Starbatty MEP
byProfessor Joachim Starbatty is a member of the European Parliament. He kindly hosted our event “The Lessons of Economic History” earlier this year. Here…
How Asset Inflation Will End — This Time
byLife after death for asset inflation: this is what happens when “speculative fever” remains high even after monetary inflation has paused. This may well…
Chapter 6: America, Won and Lost.
byAfter the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
Don’t be so negative
by“FED’S WILLIAMS SAYS IN A DOWNTURN WE COULD CONSIDER QUANTITATIVE EASING, NEGATIVE RATES.” Tweet by Reuters’ Jennifer Ablan, reporting on a speech by…
Importance of model building in economics
byIn the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
What They Don’t Want You to Know about Prices
byast week, in part I of this essay, we discussed why a central planner cannot know the right interest rate. Central planner’s macroeconomic aggregate measures like…
Central bank balance sheet reductions – will anyone follow the Fed?
byThe next wave of QE will be different, credit spreads will be controlled The Federal Reserve may continue to tighten but few other…
Why monetary easing will fail
byThe major economies have slowed suddenly in the last two or three months, prompting a change of tack in the monetary policies of central…