What’s in a Name? Why the Definition of Capitalism Matters
bySometimes people wonder whether philosophy is of any use in understanding daily life. Aren’t philosophers “in wandering mazes lost”? Away with such nonsense, say…
Economics
Balance of payments and exchange rate
byBy Dr Frank Shostak For most economic commentators the state of the balance of trade is a key factor in the currency exchange rate…
Ludwig von Mises’s Free Market Agenda for a Postwar Ukraine
byOur television screens and social media sites are filled with the images of death and destruction as the Russian army continues its devastating advance…
Ukraine and the Next Wave of Inflation, Part I
byThe term inflation is used by many people to mean rising consumer prices, regardless of the cause. Though most are aware of nonmonetary causes, there is…
Wales Latest “Experiment” in UBI will Prove Nothing and Here’s Why
byWhy the most generous basic income scheme ever trialled will only arm sophists. Imagine a government official took one valuable item from each of…
The Japanese Boom and Bust
byBy Mark Thornton During the 1980s Japan was feared as an economic and technological powerhouse. Most observers attributed their stock market bubble and high…
Diversification versus risk
byBy Dr Frank Shostak By a popular way of thinking, the prices of financial assets fully reflect all available and relevant information. In addition,…
Quantitative methods in economics do not explain but describe
byBy Dr Frank Shostak Most economists regard the use of mathematical and statistical methods as the key towards understanding the complexities of economics. They…
Patricians vs. Plebeians: The Realignment
byAll of this should remind us that the history of liberalism (in its traditional sense meaning freedom) is a history of revolt against elites….
Can expansionary policies counter recessions?
byBy Dr Frank Shostak Whenever the signs of an economic weakness emerge, most commentators are of the view that the government should relax the…