Most of the world takes it for granted that central banks are necessary for the smooth conduct of trade, both foreign and domestic. Nothing could be further from the truth. Let’s be clear. Central banks [more…]
Last week’s economics essay generated some interesting responses, four of which prompt me to expand on their subject matter. 1 – Understanding the relationship between imports and exports The first of these expressed some puzzlement [more…]
Here’s a clue: if there are things that you, as a rational citizen, would never choose to do, it’s almost certain that government should stay clear of them too. But governments rarely act rationally, and [more…]
没有人阅读评论 Meiyouren Yuedu Pinglun (Nobody Reads the Comments) So what do Chinese people think about their country? Below are translations of three comments appended in Chinese (and hence not intended for foreigners) to a [more…]
没有人阅读评论 Meiyouren Yuedu Pinglun (Nobody Reads the Comments) “SINCE 1978 China has liberated more people from poverty than any other country in history, partly because China before 1978 consigned more people to poverty than anywhere [more…]
The myth that a “no deal” Brexit will bring catastrophe to the UK is at last being shown up for the fiction that it truly is. “Remain” stalwarts are not giving up easily, however, and [more…]
In many of these essays on economics I have been at pains to point out that the prosperity of any community, anywhere, anytime, if it is to last, must be based on observance of the [more…]
The most important Brexit issues have been clouded by uncertainty, exacerbated by predictably negative forecasting by supposedly neutral authorities. This has generated a totally unwarranted fear that has paralysed the resolve of even those upon [more…]
Whenever confronting a puzzling situation, it’s worth asking how it came about. When doing this I usually find it helpful to write about it and, given my personal orientation, my way through the maze is [more…]
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