Socialism and decivilization
byOn pages 33–35 of my book Socialism, Economic Calculation, and Entrepreneurship, I examine the process by which the division of practical entrepreneurial knowledge deepens…
Economics
The hope of Osborne and the error of Osborne
byThe following quote is taken from page 155 of Capital and Production by Richard von Strigl, which you can download in PDF format from…
Money, twisted: caught in the devil’s bargain
byIn this world, what isn’t lacking, somewhere, though? Sometimes it’s this, or that: here what’s missing’s gold. – Goethe, Faust, Part II, translated by…
Central bankers and politicians are running out of ideas
byMy father, who at one time was an education minister in the Kenyan government, used to tell a story of a long-forgotten crisis when…
Has US monetary policy reached a dead end?
byIn his various speeches and comments the Chairman of the Federal Reserve Ben Bernanke has given the impression that the central bank’s monetary policy…
Here be Draghis
byIn an impassioned article carried in the FAZ last week, Otmar Issing bewailed the ongoing ‘Crisis and Leviathan’ push towards a greater centralization of…
Draghi: ECB to counter ‘unfounded fears’ with unlimited cash
byYesterday, the ECB pronounced itself the official lender-of-last resort to all Euro-Zone governments. To assure that the state can always borrow at conveniently low…
Great diagnosis of credit bubble, not so sure about the cure
byYet another book bemoaning the credit binge – and wondering what to do about it – has hit my desk. Richard Duncan’s effort, The…
Alasdair Macleod interviews Bob Murphy
byGoldMoney have released a recent podcast where I interview Bob Murphy, who is a leading economist of the Austrian school. At the outset, I…
The resource cost of a gold standard
byWe are currently incurring costs akin to having a gold standard – in that we are using gold for monetary purposes, as an inflation…