“Inflation is always and everywhere a monetary phenomenon.”–Milton Friedman “Inflation” is an increase in the money supply. Higher overall prices are the result of an increase in the money supply. To say that higher prices [more…]
On my list of recommendations in YouTube the other day was an extract from TalkTV. It was a discussion between presenter Peter Cardwell and Liam Halligan. You may remember Liam, he had his own show [more…]
It’s one of those wonderful explanatory ideas that is obscure in that very few people know what it is but outlandishly obvious and essentially undeniable once you hear it. When you’re going to print money [more…]
News here in the US has been full of the latest farce known as raising or not raising the debt ceiling. Today (Thursday, May25, 2023) the Wall Street Journal’s headline story reassures us that progress [more…]
The other evening my wife was watching Question Time on BBC 1. I wandered into the room and listened for 5 minutes, hearing panel members pontificating on what their respective political parties would do/are doing [more…]
Several readers expressed surprise that last week’s essay concerned my personal NHS experiences rather than the pressing issues of the day. In such a rapidly changing economic picture no commentary can ever be bang-up-to-date, while [more…]
One of the arrogances of “Western” nations is that our way of life and our liberties are protected by periodic elections as required by constitutions, written (America) or not (Great Britain), containing bills of rights, [more…]
Veteran observers of economic folly have the advantage of experience. They are already familiar with the failed policies being enacted, yet again, by unprincipled politicians whose sole motivation is re-election. In the meanwhile these pillars [more…]
There are many good recommendations promoted by Austrian school economists for improving the economy. Although we enjoy successes periodically, most–such as deregulating trucking and airline pricing–involve eliminating previous government interventions. These successes are to be [more…]
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