Asset price inflation is the process by which "irrational" speculation in asset markets is spurred by monetary inflation. This can occur even without any accompanying goods price inflation.
Our aim ought not to be to make democracy “work better” but to use revelations of corruption as a tool to question altogether its value as a political and social system of organization.
One mistake we make is to assume that the people who shout the loudest about their research must thus be right, or even know what they’re talking about.
Thanks to capital accumulation and other innovations in the West, life expectancy grew beyond anything previously imagined. The benefits spread from there.
It was government policies that kick-started the engine of financial innovation, wrongly blamed by many in the press and left-leaning academia for this increased economic instability.
"Praxeology … does not deal in vague terms with human action in general, but with concrete action which a definite man has performed at a definite date and at a definite place."
Cultural disparities between national, linguistic, or cultural groups can prevent the spread of trade and hamper the adoption of useful economic strategies.
Beef has become more expensive than pork. Could fiat money have driven resources toward pork-centered "factory farms" and away from less capital-intensive beef production?
