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Credit Booms Gone Wrong
Recent research by economists Moritz Schularick and Alan M. Taylor have confirmed the theory that economic booms are fueled by an excessive growth of credit. They have written a paper titled “Credit...
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Free Banking Explained
Free Banking is free-market banking. In pure free banking, the money supply and interest rates are handled by private enterprise, there is no restriction on peaceful and honest banking services, and...
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Moral Markets and Immoral “Capitalism”
The question, “Is capitalism moral?” was raised by Steven Pearlstein in a 15 March 2013 article in the Washington Post. He is a professor of public and international affairs at George Mason University...
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Another Housing Bubble?
Last year I wandered down the street to an open house for sale. Even though I announced myself as a looky-loo, the agent welcomed me. We sat around talking and eating cookies for an hour; no prospects...
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Around the Web
A university in Malaysia has awarded an economics doctorate to North Korea’s communist dictator Ian Bremmer asks, in the pages of the National Interest, if China is in the middle of a big bubble The...
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Is China running out of cash?
Is China running out of cash? China Halts Bank Cash Transfers “The People’s Bank of China, the central bank, has just ordered commercial banks to halt cash transfers.” Could we be seeing the start of...
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Where the World’s Unsold Cars Go To Die [Zerohedge]
I don’t have time to comment a ton on this (Life has just been absurd lately) but wanted to make sure more people saw this. The guys over at Zerohedge noticed a surprising sight on google maps in the...
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The Skyscraper Curse
The Skyscraper Curse This is Thornton at his best!Filed under: Liberty Tagged: business cycles, economics, libertarianism, Mark Thornton
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Blaming Finance, Ignoring Real Causes
The fall 2014 Cato Journal has an article, ‘The Financial Crisis: Why the Conventional Wisdom Has It All Wrong,” [pdf] by Richard Kovacevich, Chairman Emeritus of Wells Fargo. The author is correct in...
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NGDP, NGO and total expenditures
I did not think that my post on NGO versus NGDP would gather attention, but it did (so, I am happy). Nick Rowe of Carleton University and the (always relevant) blog Worthwhile Canadian Initiative...
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