Can Capitalism Survive? 80 Years After Schumpeter’s Answer
byEighty years ago, in the midst of the Second World War, Austrian-born economist Joseph A. Schumpeter published one of his most famous books, Capitalism, Socialism,…
April, 2022
Value destruction
byIn recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and…
Interest rate determination : Mainstream view versus the Austrian School view
byBy Dr Frank Shostak The conventional view, as presented by Milton Friedman is that three factors determine market interest rates. The first factor being…
Theory and the facts of reality
byBy Dr Frank Shostak According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can…
Speeches at Austrian central bank last year
byLast year Steve Baker and I gave speeches at the Austrian central bank. The whole event was very interesting and our speeches were well…
Zero Hedge: The “True” Inflation Rate Is 13.2% – Censorship-Resistant Price-Tracker Built On Blockchain
byWith the official inflation (CPI) rate at +7.9% year-over-year – a 40-year-high – one could be forgiven for believing that the government’s statistics are…
The Fed Can’t Fix the Economy, but It Can Break It
bySource: https://mises.org/wire/fed-cant-fix-economy-it-can-break-it The Federal Reserve states that it “conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in…
Review of Why It All Goes Wrong! by Gareth Seward
byWhy It All Goes Wrong! serves as a short introduction to the Austrian Business Cycle Theory and many important concepts of the Austrian School…
Speech at Jackson Hole Summit from 2015
byIn 2015 there was a very interesting event in the US – the Jackson Hole Summit, which ran concurrently with the Federal Reserve meeting…
Why the Fed’s tight interest rate stance is unlikely to undo the negatives of the previous easy stance?
byBy Dr Frank Shostak On Wednesday March 16 2022, the US central bank the Fed raised the target for the federal funds rate by…