Summary: the most contrarian thing you’ll read today. Japan was a big story in 2014. The hopes for its rise — quickly crushed — created ripples around the world. Today’s post features an article by an expert asking if a new phase in its recovery story will unfold in 2015. A recovery in Japan would …
For Japan there is no road but to an economic recovery Read More »
Summary: As Europe’s governments (and perhaps the US as well) repeat the economic policies of 1929-32, this guest post by Andres Drobny (see bio at the end) warns of the consequences. Government leaders back then did the best they could with the economic theory then available; today’s leaders have no excuse. Contents This is written as a …
Explaining the gold standard, the Euro, Default, Deflation, and Hyperinflation Read More »
Much of the commentary about the financial crisis in the general media is little more than superstition — recommendations like the 14th century efforts to control the Plague by killing dogs (which, of course, made it worse). Here are two excerpts from the professional economics literature, brief insights into our true situation. Plus two powerful recommendations: sustained fiscal stimulus …
Explaining the government’s response to the financial crisis Read More »
Economic theory as a guiding light for government action in this crisis. But which theory? The dominant Keynesian economic theory, or that of the Austrian School? (see the links at the end for background information about each). Here is an excerpt from the Drobny Global Monitor of 5 March 2009, by Andres Drobny (see his bio …
Economic theory as a guiding light for government action in this crisis Read More »
