Capital and Interest Theory

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Greenspan Expects the US to Embrace Negative Interest Rates. Here's Why That Would be "Catastrophic."

The FedMoney and BanksCapital and Interest Theory

Blog09/18/2019

Central banks’ economic models predict deeper negative rates are necessary in the event that a significant recession materializes. This would be a disaster.

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Inverted Yield Curves, Recessions, and You

Financial MarketsU.S. EconomyBusiness CyclesCapital and Interest Theory

Blog09/05/2019

To understand what an inverted yield curve means, you must first understand what the yield curve is.

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Why Ignoring Time-Preference is the Fundamental Mistake of Central Bankers

Money and BanksCapital and Interest TheoryMoney and Banking

Blog06/12/2019

Ignoring time preference is the fundamental error behind monetary planning. It is why in a successful economy, monetary intervention by the state is kept to a bare minimum, or preferably banished altogether.

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The Making of Modern Civilization: Savings, Investment, and Economic Calculation

Capital and Interest TheoryPhilosophy and MethodologyPrivate Property

Blog04/17/2019

The fallacy that labor-saving machines create technological unemployment has not only been disproved by theory but also by the whole history of mankind.

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Capital is a Mystery to Alexandria Ocasio-Cortez

Capital and Interest Theory

Blog04/04/2019

While Ocasio-Cortez has a degree in economics, she apparently never learned the lessons stressed by Hernando de Soto in his The Mystery of Capital.

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The Division of Labor Is at the Very Core of Economic Growth

Capital and Interest Theory

Blog02/09/2019

The importance of the division of labor hardly can be exaggerated, and it is also key in understanding the process of capital creation.

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Why Capital Needs Entrepreneurs

Capital and Interest TheoryMoney and Banking

Blog12/31/2018

It is not true that capital — once created — will lead to future wealth gains forever into the future. Only constant adaptation — via entrepreneurs — can make sure that the production process will provide the flow of consumption goods in the periods to come.

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Sorry, Stiglitz: It’s Socialism That’s Rigged — not Capitalism

Capital and Interest TheoryOther Schools of Thought

Blog11/14/2018

Ever since winning the Nobel Memorial Prize in “Economic Science” in 2001, Joseph Stiglitz has been a one-man advocacy band for growth of the state.

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"Price Stability" Is a Trick — It Actually Ruins Wealth

Money and BanksCapital and Interest Theory

Blog07/31/2018

The Fed's policy of price stability, as in the 1920s, may catch economists again unaware of the damage inflicted by this policy.

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