Tag Archives: Austrian school

What has the MPC got to hide?

News to light the fires of the paranoid and conspiracy theorists out there: The Bank of England’s Monetary Policy Committee (MPC), the group which decides on interest rates each month, keeps no minutes of their meetings. We’ve argued on this … Continue reading

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The illusion of stock market prosperity

The ups and downs of the stock market is reported daily, hourly – continuously on some news channels. Stock markets are seen as indicators of the overall economy. A rising stock market means prosperity, and a falling stock market spells … Continue reading

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Forward guidance

One of the notably sinister traits of a central bank is the act of collaboration (read, collusion) between countries: they can’t exist for long without it. It is therefore not surprising that when Ben Bernanke issued a statement linking future monetary policy … Continue reading

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The subtle Cantillon effects of inflation

The biggest problem with increases in the money supply is not that it causes a rises in prices – that monetary inflation can cause price inflation – for this is what we would expect to happen in most cases. Rather, … Continue reading

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The new man at the helm

At the start of July, Mark Carney became the new Governor of the Bank of England. He appears to have taken his job at a time when there is greater optimism regarding the state of the UK economy, which has … Continue reading

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Quote of the Day

That we are witnessing strange and dangerous deformations of the capitalist system, if we can still even call it capitalist, and that new bubbles are being blown everywhere, is not only evident by the increasingly grotesque dichotomy between a woefully … Continue reading

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Dangerous experimentation

“Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.” The Restaurant At The End of The Universe, Douglas Adams Post World War II, there was a system … Continue reading

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