Tuesday, 28 July 2015
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    Accounting And Finance

    Commodity and commodity-backed currencies

    July 15, 2015
    A commodity money is an item that individuals consume (or otherwise make use of) that also functions as a commonly accepted medium of exchange. Commodity monies can be contrasted with fiat monies like the modern dollar, euro, yen, etc., which function as commonly accepted media of exchange but are not used for any non-monetary purpose. […]
    Usa And Australia

    Monetary freedom: Australia vs. the United States

    July 10, 2015
    The following is a contribution by a visiting scholar from the Mannkal Foundation in Australia  According to the 2015 Heritage Foundation index of economic freedom, the United States is ranked 88th out of 186 countries for monetary freedom, with a score of 76.6. The score for monetary freedom is based on two factors: the weighted average inflation […]
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    Interest rates, profits and competition

    July 9, 2015
    Over at the Wall Street Journal, Greg Ip sees a lack of competition in corporate America. He notes that: Competition forces companies to invest in new products and new capacity to hold on to customers and capture new ones. Less-intense competition may thus explain some of the puzzles that hang over the U.S. economy. Profits […]
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    NGDP targeting: An overview

    July 8, 2015
    The prolonged recovery that followed the Great Recession has brought about increased support for a monetary policy rule known as Nominal Gross Domestic Product (NGDP) targeting. This form of targeting combines employment and inflation into one metric. In theory, this would better help the Fed achieve its dual mandate. NGDP targeting focuses on an economy’s […]

    Op-ed: The Greek referendum: Will economic principles prevail?

    July 8, 2015
    Ultimately, an economy can only sustain itself if it produces more than it consumes. That’s a lesson that the Soviet Union learned the hard way decades ago, explains Atlas Network Sound Money Project Senior Fellow Jerry Jordan in a column for Forbes, but Greece seems determined to continue its high levels of spending and consumption at […]

    Op-ed: Was the euro mistake?

    July 7, 2015
    Originally posted on the Atlas Network page With Greece rejecting the structural reforms and other terms that it would need to implement for yet another bailout of its crushing government debt, economists are questioning whether the eurozone and its shared international monetary system were doomed to fail from the start. Writing in The Hill, Atlas Network Sound Money […]
    Interest rates

    On interest rate targeting

    July 6, 2015
    Previously I discussed inflation targeting as a popular rule for governing central bank behavior. In this post I will discuss interest rate targeting, another popular recommendation that has its own costs and benefits. The most prominent interest rate rule is the Taylor rule, devised by John Taylor of Stanford University. Taylor originally proposed the rule […]
    Greek Crash

    Understanding the Greek crisis

    June 30, 2015
    As I write these lines, it is almost certain that Greece will default on its debt today, June 30. What led to such a disastrous situation? To understand, we must look back in time to the events leading up to and surrounding today’s expected default. A brief clarification must be made in order to understand […]