Corona’s Surprising Productivity Surge
byBy Henrique Schneider Around the world, productivity growth has been slowing. In developed economies, productivity has risen by less than 1 percent annually for several…
Economics
Can an increase in the demand for money neutralize the effect of a corresponding increase in money supply?
byAccording to popular thinking, not every increase in the supply of money will have an effect on the production of goods. For instance,…
Europe’s Bailouts Risk a Full-Blown Financial Crisis
byThe measures implemented by governments in the eurozone have one common denominator: a massive increase in debt from governments and the private sector. Loans…
Why the present monetary system is heading for a breakdown
byMost economists hold that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money,…
Saturn Devours His Children
byA recent Wall St Journal article gave vent to a scare-story full of Underconsumptionist claptrap, carried under the catchy headline: “The Coronavirus Savings Glut”….
The Chain Reaction Is Now In Process
byMuch has been written about the economic consequences of Covid-19, yet, just as in many of the analyses of the Great Depression and the…
After the flood – Beyond fiscal and monetary intervention
byMonetary and fiscal stimulus to ameliorate the effect of the pandemic has exceeded $9trln Stock markets have recovered, although most are below their…
Convenience vs. Truth in Economics
byBy Nathan A. Kreider The great struggle in economic science has been the formulation of theories that accurately describe the real world. Though this…
Why the New Economics Just Boils Down to Printing More Money
by[Editor’s Note: this article is adapted from a 2003 essay in the Quarterly Journal of Austrian Economics entitled “New Keynesian Monetary Views: A Comment.” As economists…
Tragedies of Our Time: Pandemic, Planning, and Racial Politics
byAn old adage says that tragedies often come in threes. Certainly, the first half of 2020 has seen a version of this. First, the…