How magical is the Keynesian multiplier?
byFor most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. The view is…
Austrian School
Business cycles are credit cycles
byThis article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
Rapid money growth and inflation – is there a connection?
byIn the article “Rapid money supply growth does not cause inflation” written by Richard Vague at the Institute for New Economic Thinking, December 2,2016…
Fed’s policy of price stability results in more instability
byFor most economists the key factor that sets the foundation for healthy economic fundamentals is a stable price level as depicted by the consumer…
What should be the correct money supply growth rate?
byMost economists believe that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money,…
The Next Step in Europe’s Negative-Interest-Rate Experiment
byThe European Central Bank (ECB) pushed its deposit rate to minus 0.4 percent in April 2016: Since then, euro area banks must pay 0.4…
Give us another Oil boom
byDear Lord, Y’all give us another oil boom… If there is one sector of the US economy where an Austrian-style Boom-and-Bust bust has taken…
For Keynesians and Austrians, “Uncertainty” Means Two Different Things
byBy G. P. Manish and Felicia Cowley Keynesian economics has witnessed a remarkable resurgence since the crisis of 2008. The inability of mainstream economics to predict or…
Balance of payments and the exchange rate: is there a connection?
byAccording to conventional analysis, a key factor in exchange rate determination is the state of the balance of payments. It is held that as…
Cobden Centre Senior Fellow Detlev Schlichter at the Treasury Select Committee
byYou can see Cobden Centre Senior Fellow Detlev Schlichter’s insightful and pertinent contributions at the Treasury Select Committee’s enquiry into the “Effectiveness and Impact…