Money and Inflation
Did central banks create inflation?
Inflation, said the Nobel price winning economist Milton Friedman, is always and everywhere a monetary phenomenon. Put simply, what he meant is that the price [...]
Inflation in the era of QE: still a monetary phenomenon
When global central banks responded to the Global Financial Crisis (GFC) with Quantitative Easing (QE), many economists, not least Austrians, foresaw a wave [...]
Modern Monetary Theory: The dangers of an alluring economic theory
In a world of rapidly rising government debt, Modern Monetary Theory (MMT) is attracting attention. That is not surprising, given that the theory purports [...]
The problem with inflation targeting
In central bank lingo, price stability somewhat preposterously means an engineered, predictable and stable increase in the price level. Most central banks, [...]