Making globalisation work requires real money
byThe production process is based on the division of labor. Each manufacturer specialises in obtaining certain products and obtains other goods he needs through the exchange….
Economics
Think small
by“Sir, John Maynard Keynes’ later career as an investor ended well but Gavyn Davies claims too much for his novelty and rarity (“Keynes would…
Signs of the gold standard emerging In China?
byAs noted in last week’s column about the rising recognition by authorities in Germany about the virtues of gold, the gold standard is receiving impressive…
A vicious cycle
byFor some months now, leading indicators the world over have been pointing toward slower growth ahead. It’s not just about the euro-area any more….
Must free trade be reciprocal?
byThis classic essay by Frédéric Bastiat was recently featured at Mises.org. It was first published in 1845, as the tenth chapter of Bastiat’s Economic Sophisms. We…
Helicopter Ben flies again
bySome of the dust from Ben Bernanke’s “QE3” announcement on 13 September has settled. The Federal Reserve is now committed to spending $40 billion a month…
The pathology of central bankers
byIn an Amphora Report published in 2010 I posed the then-provocative question, “Has the Fed become pathological?” Well, time moves on, another iteration of…
Communist approval for western central banking
byI received an interesting email recently from a distinguished colleague in Spain. He was looking at the Central Bank of Cuba’s website where they…
The greatest trick
by“I believe in an America where millions of Americans believe in an America that’s the America millions of Americans believe in. That’s the America…
The fallacy of nominal GDP targeting
byIn a truly remarkable piece for the Financial Times yesterday, Wolfgang Münchau took another swipe at the Euro-sceptic and ECB-critical community in Germany, which he accuses…