Cyprus triggers preference for goods
Almost certainly prices for goods in Cyprus will rise as a result of its banking crisis, because the imposition of capital controls will restrict…
Welfare costs rapidly escalating – everywhere
Many of us are aware of Professor Laurence Kotlikoff of Boston University’s calculation that the net present value of the US Government’s future liabilities…
The relationship between money and prices
The quantity theory of money and its accompanying equation of exchange are generally accepted as defining the relationship between money and prices. The equation…
A detailed look at Bank of England gold
The London Bullion Market is the global trading centre for physical gold, and the Bank of England holds gold on behalf of other central…
Osborne cornered
On 20 March George Osborne, the UK’s Chancellor, will present his budget. So far he has made a valiant attempt to cap public sector…
The final countdown
Governments have refused to accept the necessity of a period of economic re-adjustment following the credit-bubble. The bubble burst about five years ago and…
The impossibility of economic calculation in a fiat world
The purpose of keeping accurate accounts is to quantify net worth at any given point in time – as well as the change from…
Why price inflation will take off
There are key aspects of economics that neo-classical monetarists do not apparently comprehend; the most important, given their job-description, being the relationship between money…
Gold reserve mysteries
Last Wednesday the Bundesbank released a statement to the effect that 300 tonnes of Germany’s gold will be moved from New York and 374…
Austrian economics in 2013
Regular readers of my articles either have some knowledge of Austrian economic theory or at least suspect that Keynesian and monetarist alternatives are flawed….