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…
Austrian School
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…
Savings the heart of economic activity
byIt is held by most mainstream economists that spending is the heart of economic activity. Economic activity is depicted as a circular flow…
Importance of a theory in economics
byIt is a common belief that sound economics must be based on facts and not on theoretical reasoning as such. Some commentators are…
The essence of inflation
byThe popular definition cannot explain why inflation is bad According to the popular way of thinking, inflation is defined as a general increase…
To make banks strong, do away with the regulator
byAs the UK economy enters the COVID-19 downturn, the Bank of England (BoE) continues to maintain that the UK banks are strongly capitalised. The…
An “Austrian” Agenda for Post-Coronavirus Recovery
byEveryone is hoping for the light at the end of the tunnel with the coronavirus crisis. There are few who are not exhausted with…
Lockdowns and the economy
byThe imposition of lockdowns to counter the spread of the infection from the coronavirus is likely to severely damage the real economy. As…
The destructive force of bank credit
byCommentators routinely confuse the deflationary effects of a contraction of bank credit with the inflationary effects of central bank policies designed to offset it….
Cost cutting and economic growth
bySome commentators regard cost cutting by companies in order to secure profits as a major threat to the economy. They hold that if…