Monday, 20 October 2014
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    How does monetary policy affect resource allocation?

    October 15, 2014
    If monetary policy had no effect on economic performance, there would be no point in having any particular monetary policy in effect. This is the same as admitting that, at least in the short-run, monetary policy does in fact affect resource allocation. How this happens is a delicate and discussed issue in economics. If resource […]

    In Memoriam: Leonard Liggio

    October 14, 2014
    Leonard P. Liggio, Executive Vice President of Academics at Atlas Network, passed away October 14, 2014 at the age of 81. Leonard’s career advancing liberty spanned seven decades, during which time he served as the President of the Mont Pelerin Society, the Philadelphia Society, and the Institute for Humane Studies, where he later continued to […]

    French economist wins the Nobel Prize

    October 13, 2014
    Today, the 2014 Nobel Prize in economics was awarded to French economist Jean Tirole for “his analysis of market power and regulation.” When honoring Tirole, the Royal Swedish Academy of Sciences cited the 61 year old Economics professor’s work on regulation and noted that his academic contributions should help guide governments when dealing with mergers […]

    Did regulation cause the great recession?

    October 10, 2014
    John Cochrane recently wrote that Milton Friedman and Ben Bernanke were wrong to claim the Great Depression was caused by a shortage of money. He called the idea “unintentionally hilarious” and said it “gets the correlation vs. causation gold star.” Ok, not really. Cochrane actually said these things regarding a column at by Lois […]

    Lenders of last resort

    September 29, 2014
    Scotland’s vote for independence resulted in a negative. There won’t be, then, further discussions about what Scotland should do with its monetary institutions. Still, there is one more issue that I would like to discuss, because it transcends the particular case of Scotland, had independence been the result of the vote. There is a widespread […]
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    Regime uncertainty weighs on growth

    September 23, 2014
    This is a guest post from Steve H. Hanke, a Professor of Applied Economics at the Johns Hopkins University in Baltimore, MD and a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C. You can follow him on Twitter: @Steve_Hanke Shortly after the current Great Recession started, I […]

    Bitcoin exposed by Professor Steve Hanke

    September 19, 2014
    As Professor Steve H. Hanke, Professor of Applied Economics at The Johns Hopkins University in Baltimore, notes, Bitcoin “remains a mystery to many.” Luckily for those interested in learning more about the iconic crypto-currency, Hanke has constructed a series of charts that uses data to outline topics such as Bitcoin in circulation, USD exchange trade […]
    Cutting Costs

    Standards of value

    September 19, 2014
    Probably no pollster has conducted a survey to find out from the public how frequently they think the purchasing power of the currency should be cut in half. Probably no survey is necessary because we already know the public’s reaction: ‘that is a really silly question.’ Imagine asking the average person on the street, “Do […]