Profiles

The real world should always be regarded as the best foundation for an economic theory. Yet many mainstream economists think it's fine to ground economic theory in unrealistic assumptions about human behavior. 

Central banks are in a loop of repeatedly intervening to "fix" the problems caused by earlier central-bank interventions. The result will only  be recurring busts.

In a free, unhampered market economy, individuals’ expectations are likely to correspond to the facts of reality. But we live in an economy where central banks routinely distort market signals and deceive the public. 

Those analysts that insist on following the Phillips curve in order to ascertain the future course of the momentum of prices of goods are deceiving themselves.