Category Archive: 6b) Austrian Economics

Speaking on a Columbia University Law School podcast, the chief economist of the Bank of England, Huw Pill, said Britons “need to accept” that they have been made poorer by the inflation perpetrated by the central bank. Price inflation today is a result of the record money creation by central banks, especially in the West, from 2020 onward. This was rationalized and justified by the mainstream narrative on covid. The following are choice comments...

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Banks have been tightening their lending standards, and they plan to keep doing it throughout the rest of the year. Last week, the Board of Governors of the Federal Reserve released a new report on how much banks plan to expand or tighten lending in coming months. The report, known as the Senior Loan Officer Opinion Survey on Lending Practices, found that bankers expect a deteriorating economic picture in 2023, both for themselves and for their...

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The Buy Black movement has triggered a series of intense debates in the black community and the wider America. Activists proposed this project as an opportunity to generate wealth for black Americans by supporting black entrepreneurs. On the downside, others say that this agenda perpetuates an insidious form of tribalism. Are criticisms of the Buy Black movement an accurate description of its goals? Sociologists argue that minority groups often...

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The 2023 graduation season is now underway. The famous, generous, and politically powerful (especially those currently in federal office, who are cheaper because they are banned from being paid for giving speeches) will be dispensing (often very limited) wisdom about the “real world” to hundreds of commencement audiences across America. Some of the best speakers, however, will provide insight from humanity’s accumulated wisdom. One such speaker,...

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Special counsel John Durham on Monday released his report on the FBI's role in investigating the 2016 Donald Trump campaign's alleged collusion with Russia. This investigation, codenamed "Crossfire Hurricane," had been—according to Durham's report—"swiftly" opened as a full-blown investigation in response to "unevaluated intelligence information" by FBI personnel "without ever having spoken to the persons who...

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In a market economy, money is the medium of exchange; producers exchange their goods for money and then exchange that money for other goods. As the production of goods increases, the demand for money expands. Conversely, as economic activity slows down, the demand for money follows suit. Price changes also affect the demand for money. An increase in the prices of goods and assets increases the demand for money, since people now demand more money to...

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In the book Green Tyranny—a fantastic history of the environmental alarmism movement—author Rupert Darwall lays responsibility for the beginning of this movement at the feet of the Germans and the Swedes. In 1967, a Swedish scientist published the first ever “theory” on acid rain. Four years later, Bert Bolin, a Swede who would go on to chair the UN’s Intergovernmental Panel on Climate Change (IPCC), wrote the first-ever government report on acid...

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