Neoclassical economists -- a bunch of idiot savants - Editor Good economists have always under- stood that this method has severe limitations. They use their discipline as a kind of mental hygiene to protect against the grossest errors in thinking ... Today’s professional economists … [Read more...]
Is there a case for restoring the gold standard?
Is there a case for restoring the gold standard? - Lars Syll The people behind a Sovereign Money proposal in Switzerland are effectively trying to get gold back into the monetary system. This is an extremely bad idea. Eighty-seven years ago Keynes could congratulate Great Britain on finally … [Read more...]
Is the U.S. Federal Reserve privately owned?
Is the U.S. Federal Reserve privately owned? - Editor Australia's central bank is the Reserve Bank of Australia. It is a publicly-owned entity and, although enjoying a degree of independence, is ultimately responsible to the federal government and is obliged to cooperate with Treasury. The … [Read more...]
Governments left clueless by economic orthodox
Governments left clueless by economic orthodoxy - Editor Stephen Williams recently explained [1] how politicians of every persuasion have been led astray by mainstream economists, trapped in the delusion that federal government budget constraints are the same as those of households, businesses and … [Read more...]
