Saturday, 29 April 2017

Monthly Archives July 2010

Age of Inflation

Posted by Tom Duncan
July 28, 2010

“Professor Hans F. Sennholz is the outstanding student of Ludwig von Mises whose lifetime work specialized in monetary and financial economics. This book is one of his great legacies to economic science. The title Age of Inflation reflects its subject matter and the date of original publication: 1979, the year of the outbreak of double-digit […]

Read More

The Inflation Crisis and How to Resolve It

Posted by Tom Duncan
July 28, 2010

“No subject is so much discussed today – or so little understood – as inflation. The politicians in Washington talk of it as if it were some horrible visitation from without, over which they had no control – like a flood, a foreign invasion, or a plague. It is something they are always promising to […]

Read More

“Inflation and Deficit Spending Revisited”

Posted by Tom Duncan
July 28, 2010

“In a recent article in this journal, Giffin, Macomber, and Berry (1981), hereafter referred to as GMB, attempt to test the hypothesis that larger deficits cause increases in the money supply and hence inflation. To test the debt monetization hypothesis, they analyze U.S. data for the period 1959-79. Finding no evidence that debt monetization causes […]

Read More

“Budget Deficits and Inflation”

Posted by Tom Duncan
July 28, 2010

“The sharp rise in the rate of inflation in 1973, after two years of diminishing rates, was a great surprise to many. What was the primary cause? Many rea-sons have been advanced to explain this change, some of them logical, and some not. Most of the explanations are based, in one way or another, on […]

Read More

“Bank of England’s Mervyn King Warns Over Inflation”

Posted by Tom Duncan
July 28, 2010

“Prices rises have consistently defied the Bank’s expectations of a slowdown, adding to pressure on households as wage growth remains weak and the Government introduces a strict austerity package. The Bank’s rate-setters are charged with keeping inflation at 2% but the Consumer Prices Index benchmark has been above 3% throughout the year. However, addressing a […]

Read More

“Money Dominates”

Posted by Tom Duncan
July 27, 2010

“Financial panics are usually followed by sharp economic snap backs. The post-Panic of 2008 has failed to follow this typical “V-shaped” economic recovery pattern. After almost two years, the U.S. economy remains mired in an anemic recovery, with a current 2.4% year-over-year rate of growth. This paltry growth rate doesn’t even reach the U.S.’s long-term […]

Read More