A New Era: Politicians and Central Banks Reinvent the Wishing-Table
Unbelievable national debts and deficits, direct access of politicians to the printing press and unconditional payments to citizens in the USA. The EU, for its part, is embarking on the path of massive new national debt. Can this possibly end well?
Thinking Economically: Only the Market and the Logic of Exchange Create Prosperity
Economics is not a zero-sum game. In exchange, both sides always benefit. Exchange is the soul of the market and creates added value, and does so in a way that benefits everyone involved. A plea for economic enlightenment.
“Irrational Stock Exchanges” and the Wirecard Scandal: On the Blanket Suspicion of Financial Capitalism
Joint stock companies and stock exchanges have made the upswing of modern economies possible. However, they have always been suspected of serving the greed of a few. What, then, is the function of “financial capitalism”?
Philipp Bagus: “The Fear of Deflation Is Unfounded”
Many economists, policymakers, and central banks are afraid of deflation. Generally speaking, they do not even distinguish between different causes of price deflation—i.e. between price deflation caused by growth and price deflation caused by contractions in credit. In this interview, the economist Phillipp Bagus says that these fears of deflation are misguided.
In Our Heads We Are All Marxists—How Marx’s Myths Shape Our Affluent Society
Even though few self-identify as Marxists, many of the Marx’s ideas remain in fashion. In particular, his denigration of capitalists and entrepreneurs as stealing from workers, and his failure to identify their effective beneficence, remain quite popular.