This year marks the 150th anniversary of a radical change in the way economists came to understand the logic of human decision-making and the formation of prices in society.
Economists’ R*, or R-star, is a fiction. It’s one that they came up with after-the-fact to try to explain why their policies didn’t actually work the way policymakers had initially…
Among the most misleading – and hence, most objectionable – terms used in modern economics is “externality.” As summarized in my previous essay,
All eyes on bitcoin, it seems, as the price hits new all-time-highs, its proponents celebrate, and the economists who have long pronounced it dead and useless scratch their head in…
The “too many” Treasury argument which ignited early in 2018 never made a whole lot of sense. It first showed up, believe it or not, in 2016.
The good news, such that it might be, is that the BLS – using data from the Census Bureau – believes that the American population is slowing down.
Why can't we be friends? The gold versus Bitcoin debate rages on.
Is there a charmed fiscal number that unlocks the inflationary promised-land? Central bank Economists have spent more than a decade in the West, two in Japan, desperately seeking the magic…
Let the bartering begin.
There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications.