Sunday, 20 August 2017

Blog

Blogging by friends of Atlas and others who concerned with the issues at hand.

Money in Illiberalism

July 11, 2017

A liberal society is governed by the principles of private property and freedom of contract, under the aegis of a nondiscriminatory rule of law.  In such a society, money enables economic actors to coordinate their activities.  Money allows producers and consumers to find common ground, as profit-and-loss accounting enables producers to compare various lines of […]

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The Monetary Policy Blinders

July 10, 2017
in Blog

I just read Ben Bernanke’s “The Federal Reserve and the Financial Crisis.” The book was actually published in 2013, and it contains his 2012 lectures at George Washington University. It contains four well written lectures that cover the history of the U.S. Federal Reserve and the 2008 financial crisis. Some of the complexities of the […]

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Cantillon Effects and Money Neutrality

June 27, 2017

Money neutrality is a key principle in monetary economics. As might seem obvious, the amount of goods that can be produced depends on the availability of factors of production (such as capital and labor) and on technological knowledge. For instance, the fact that more dollars are in circulation does not mean we can produce more […]

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Fed’s Balance Sheet, IOR, and Uncertainty

June 13, 2017

It seems likely that in the coming months monetary policy discussion will start focusing on the problem of shrinking the Fed’s balance sheet. A particular challenge of shrinking the Fed’s balance sheet is that of discontinuing the policy of paying interest on reserves (IOR). While at first sight it might seem that the IOR is […]

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The Central-Bank Trap: the Real Price of Cheap Money

Posted by Daniel Lacalle
June 8, 2017

This piece originally appeared in World Economic Forum At the time of writing, the pace of expansion of the main central banks in the world exceeds $200 billion per month. In fact, in the first four months of 2017, central-bank asset purchases have surpassed the $1 trillion mark, according to Bank of America Merrill Lynch. […]

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IRS Summons of Coinbase Undermines Privacy, Discourages Innovation

June 7, 2017

The IRS is expected to respond to a recent Congressional inquiry into its summoning records from Coinbase, a San Francisco-based digital currency intermediary, by June 7. The inquiry, sent by House Ways and Means Committee Chairman Kevin Brady (R-TX), Senate Finance Committee Chairman Orrin G. Hatch (R-UT), and House Ways and Means Oversight Subcommittee Chairman […]

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