It can be argued that the world has reach the sorry state it’s in today largely because academics, politicians and “distinguished experts” or “recognized authorities” did not have the humility to admit their own mistakes, or to at least recognize the limits of their knowledge. Of course, this is far from a new affliction in our societies …
Tag: Modern Monetary Theory
Inflation risk takes center stage – Part I of II
Over the past couple of weeks, we’ve been seeing more and more mainstream headlines about inflation fears being on the rise, both in the US and in Europe. Central bankers on both sides of the Atlantic have been doing their best to assuage these concerns, promising that they have everything under control and that the …
“The real danger comes from massive state dependence” – Part II
INTERVIEW WITH H.S.H. PRINCE MICHAEL OF LIECHTENSTEIN – Part II of II Claudio Grass (CG): Since the start of the pandemic, we’ve witnessed extreme efforts to increase top-down control and to centralize power in ways that affect almost all aspects of a citizen’s life. Do you expect that this can all be reversed once the …
“Unless the US stops printing money, the dollar will collapse.”
Interview with Patrick Barron – Part I of II We’re less than two weeks away from the US election, and yet this sense of utter confusion, bitter political conflict, and economic uncertainty that has been ominously hovering over the nation, as well as the rest of the world, doesn’t seem to have subsided. The country …
Modern Monetary Theory is an old Marxist Idea
There is nothing new under the sun Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually …
THE ROAD TO SERFDOM – BY THE EXAMPLE OF VENEZUELA – PART II
“Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, …