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Tag Archives: mises institute
Hard Assets In an Age of Negative Interest Rates
Hard Assets In an Age of Negative Interest Rates Time is the soul of money, the long-view — its immortality. Hard assets are forever, even when destroyed by the cataclysms of history. It is the outlook that perpetuated the most competent and powerful aristocracies in continental Europe, well up through World War I and, in […]
Government Regulation and Crony Capitalism is Keeping Thousands in Florida without Power
Government Regulation and Crony Capitalism is Keeping Thousands in Florida without Power Almost two weeks have passed since Hurricane Irma made landfall in South Florida, yet tens of thousands remain without power. With temperatures regularly eclipsing over 90 degrees, these outages are not only a grave inconvenience for Floridians cleaning up after the storm, but […]
The World Is Creeping Toward De-Dollarization
The World Is Creeping Toward De-Dollarization The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the […]
The Neoconservatives Have Declared War on the Realists
The Neoconservatives Have Declared War on the Realists In recent years, I’ve increasingly suspected that when it comes to foreign policy, the realists offer some of the most sane observations. These suspicions were confirmed earlier this year when after the election of Donald Trump, John Mearsheimer, one of modern realism’s current standard bearers, wrote in […]
Keynes: A Master of Confused and Confusing Prose
Keynes: A Master of Confused and Confusing Prose [This article is a selection from Where Keynes Went Wrong]: Paul Samuelson, professor of economics at MIT after World War II and author of a best-selling economics textbook, was one of Keynes’s most ardent American disciples. Here is what he has to say about the latter’s General Theory: […]
Bank of Canada Raises Interest Rates… Again
Bank of Canada Raises Interest Rates… Again For the second time in less than two months, the Bank of Canada has raised interest rates. On Wednesday, the central bank raised its overnight lending rate by a quarter per cent to 1 per cent. The move surprised many who weren’t expecting a rate increase until later […]
Does Government Spending Create More Economic Growth?
Does Government Spending Create More Economic Growth? After the 2007-2009 global financial crisis, fears of ballooning public debt and worries about the drag on economic growth pushed authorities in some countries to lower government spending, a tactic that economists now think may have slowed recovery. Note that in the United States the total debt to […]
“Liberal Socialism” — Another False Utopia
“Liberal Socialism” — Another False Utopia Very often bad and failed ideas do not die, they simply reappear during periods of supposed social and political crisis in slightly different intellectual garb, and offer “solutions” that would merely help to bring about some of the very types of crises for which they once again claim to […]
Economists Are the New Astrologers
Economists Are the New Astrologers When Christopher Nolan was promoting his previous film Interstellar, he made the casual observation that “Take a field like economics for example. [Unlike physics] you have real material things and it can’t predict anything. It’s always wrong.” There is a lot more truth in that statement than most academic economists […]
What Is the Liquidity Trap?
What Is the Liquidity Trap? Some economists such as a Nobel Laureate Paul Krugman are of the view that if the US were to fall into liquidity trap the US central bank should aggressively pump money and aggressively lower interest rates in order to lift the rate of inflation. This Krugman holds will pull the […]
Why Decentralized Militias Matter
Why Decentralized Militias Matter In 1852, Abraham Lincoln gave a speech in Springfield, Illinois in which he talked about the attempts at required militia training. He described how much of a joke the citizens made of any attempt at mandatory militia training. “No man,” Lincoln said, citing the rules, “is to wear more than five […]
The Chinese Economy’s Fatal Flaws
The Chinese Economy’s Fatal Flaws Dr. Per Bylund’s recently published article poignantly states one of the core problems in the Chinese economy and its the state-manipulated Keynesian foundation. I do agree with his opinion. And if we dig deeper into the exact situation of Chinese economy, we will find that it’s a typical failing of the Keynesian, cronyist […]
The Bond Bubble
The Bond Bubble Central banks have artificially lowered interest rates, making bonds attractive. And since bonds are historically safe havens, it’s hard to even comprehend a bond bubble. But as interest rates start to rise, the concern over bonds rises too. Adding some gasoline to the fire is the fact that the largest buyers of […]
How Central Banking Increased Inequality
How Central Banking Increased Inequality Although today high levels of inequality in the United States remain a pressing concern for a large swath of the population, monetary policy and credit expansion are rarely mentioned as a likely source of rising wealth and income inequality. Focusing almost exclusively on consumer price inflation, many economists have overlooked […]
Before “Fake News,” America Invented “Pseudo Events”
Before “Fake News,” America Invented “Pseudo Events” In the wake of the Chalottesville riot, it’s been interesting how quickly the focus has shifted away from the actual events in Charlottesville and toward the public pundits and intellectuals are expressing opinions about the events. Already, the media has lost interest in analyzing the details of the event […]
