One of Say’s Laws holds that “we produce to consume”. This is certainly the underlying theme of the Industrial Revolution with its accompanying exponential growth in production of technology, communication, and energy utilization. While private [more…]
Banking came up with its own methods of inflating the supply of legal tender-fiat money, fractional reserve lending. A bank comes to know (a version of the dispersal of knowledge of the market) how much [more…]
Prior to written documents being exchanged as representations of mutually agreed perceived value, the concept of money arose amongst multiple trading groups. This may have taken place prior to the credit/debit system as a substitute [more…]
Having been born into and grown up within the never-ending promise of prosperity guaranteed by Keynes’s gospel that saved us all from the purgatory of the Depression, I like others only began to see a [more…]
The Imperative for Change The purpose of this essay is not to convince the reader of the necessity for change. It is to present some common sense policy changes to prevent or perhaps mitigate the [more…]
One of the greatest literary works of the age, James Joyce’s “Ulysses”, reveals its author’s surprising, yet profound, understanding of some of the most basic issues in economics. In the early days of the 20th [more…]
The woes we face are not theoretical. They are real, and worsen by the day. Very few members of the public really understand their causes, still less what can be done to reverse the decline. [more…]
Those who are familiar with my ideas and my writings undoubtedly know that one the issues I’m most passionate about is individual freedom, on all levels. I believe that free-thinking people know what’s best of [more…]
Every time I start this essay I find the political background has shifted so dramatically that I have to start again. Only Ollie’s complaint to Stan seems to be an apt constant: “another fine mess [more…]
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