Deflating China’s Bubble
Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.
READ MOREIn a Culture of Excess, the Fat Cats will Rule
“Free market economists are not necessarily defenders of business. Crony capitalism has a long history. Mercantilism was a form of crony capitalism, and was the main target of Adam Smith’s critical abilities. And while modern Smithians understand how i …
READ MOREChina on a Tightrope
Economic reform requires political reform. China’s leaders must loosen control if they want harmony.
READ MORE“Academia’s War Against Free Market Money”
“In a confrontational and much-needed LewRockwell.com article, Prof. William Anderson launched a counter-attack against mainstream academic economists’ refusal to consider seriously the Austrian School’s theory of money. Despite the fact that Ludwig vo …
READ MORE“Free Market Money – Instead of Political Manipulation”
“Money is the most important commodity in an economic system Indeed, money ‘makes the world go ’round.’ This is because money is the general medium of exchange. We sell our products and services for money, and then use it to buy the products and servic …
READ MORE“Euro Under Pressure As Greek Bonds Slump”
“The euro is slumping against the dollar Wednesday morning as Greek bond prices tumble and their yields surge higher against their German counterparts. The dollar is split against other major currencies, with little change against the yen, a retreat ag …
READ MORE“The Financial Crisis Grinch”
Our friends at the Cato Institute have offered this podcast on the financial crisis. “The Financial Crisis Grinch” Featuring Gerald P. O’Driscoll, Jr. Novermber 24, 2008.
READ MOREHyperinflation
“Inflation is a sustained increase in the aggregate price level. Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term ‘hyperinflation’ to describe episodes when the monthly inflation rate is …
READ MOREThe Seigniorage Curse
“The Seigniorage Curse appears to hollow out the economy by the following manner: First, the premium charged to holders of dollars becomes a new source of accrued, aggregate revenue. This extra capital flowing into the economy is initially seen as a gl …
READ MOREPoliticising money lending is not the path to prosperity
“One part of Alastair Darling’s Budget that appears to have received little attention from the media is his plan for a ‘Credit Adjudication Service’. This new body, it appears, will provide an appeals process for small and medium businesses that have b …
READ MOREMonetary Policy in a World of Uncertain Productivity Growth
“This paper considers inflation forecasts for 2001 under two different assumptions about productivity growth. One assumption, the optimistic one, is that productivity growth has risen above its long-run historical average and that 2001 will see near pr …
READ MORE
