Fiscal stimulus

US Close: September Selling, Evergrande fears, Manchin move, CAD lower

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Commodities and Cryptos: Oil slumps, Gold rebounds, Bitcoin plunges

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Inflation and relative prices

Pierre Lemieux has a post explaining the fallacy of assuming that inflation is caused by changes in relative prices. An increase in the price of used cars cannot generate or “drive” inflation for a simple reason: it works the other way around. Inflation, which is […]

The Elementary Basics of Inflation

It is always surprising how even the financial press is confused about inflation. I am not speaking of complex conflicting theories on the causes of inflation but of the very basic distinction between inflation and changes in relative prices. For example, The Economist just wrote: […]

Signaling: The Play

My friend Jason Ford wrote this little play, inspired by The Case Against Education. Enjoy! Three Mercedes By Jason Ford (The Admissions Office at Foxmoor College in the Philadelphia Suburbs. Bart Amblin, the Head of Admissions, is seated at his desk.) BART (on phone) Send […]

Markets await BoJ, Fed meetings

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David Henderson on the Essential UCLA School of Economics

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