Nobel Laureate

Gresham's Law

... the marginal price setter is “irrationally exuberant”, or dare we say it out loud? “Greedy.”

Markets, Not Government, Improve Race Relations

"So why hasn’t the market succeeded more effectively and fully in improving the lot of those who are the descendants of slaves in America? To a great degree, I would argue it has been caused by the political power of special interest groups and economic policies introduced by government."

Economists Are The New Astrologers

"...because economics models are mostly useless and cannot predict the future with any sort of certainty, then centrally directing an economy would be effectively like flying blind... If economics is unable to provide bureaucrats with the ability to effectively guide and control an economy, the best alternative would be to turn it back over the market."

"Liberal Socialism" - Another False Utopia

Very often bad and failed ideas do not die, they simply reappear during periods of supposed social and political crisis in slightly different intellectual garb, and offer “solutions” that would merely help to bring about some of the very types of crises for which they once again claim to have the answers. Socialism in its various “progressive” mutations represents one of the leading ones in our time.

What Is The Liquidity Trap?

" the popular - i.e., Keynesian - way of thinking, savings is bad news for the economy: the more people save, the worse things become. (The liquidity trap comes from too much saving and the lack of spending, so it is held.)"

Draghi: Trillions In QE Have Made Economies "More Resilient"

ECB president Mario Draghi said unconventional policies like quantitative easing have been a success both sides of the Atlantic, and the injection of over $10 trillion in liquidity over the past decade has made eEconomies around the world "more resilient."