The misbegotten birth of macro
As folks may have noted, I like graphs; they can be very useful illustrations, particularly of historical trends. Consider this graph, taken from the 2012 US Federal Budget (via). What is striking is...
View ArticleThe surreal glitter of gold
Blogging at Free Banking, Kurt Schuler wants us to have a debate about gold (as in the gold standard). Let’s not. I will concede that there is, as he states, much superficial dismissal of the utility...
View ArticleSelenium, silk, spices and silver: drivers of human history
Adam Smith called the crossing of the Atlantic by Columbus and rounding of the Cape of Good Hope by Vasco da Gama the greatest events in human history. They led to, for the first time, a truly global...
View ArticleBubble trouble: not an easy money problem
The notion that “easy money” created asset booms is levelled (famously by Austrian school economists such as von Mises and Hayek) against the 1920s boom and by a range of commentators about the Great...
View Article
More Pages to Explore .....