The Tax Deception Exposed

Written by Alternativeinsight

"A good catchword can obscure analysis for fifty years."
 - Oliver Wendell Holmes

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A Theory of Consumption and Speculation to Round Out Sraffa’s Theory of Production

August 4th, 2017
in history, macroeconomics

by Philip Pilkington

Article of the Week from Fixing the Economists

Recently I discussed the fundamental differences between the Sraffian and the marginalist systems. Since then I was perusing Sraffa’s Production of Commodities By Means of Commodities (full PDF available here).

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Happiness Is a Normal Yield Curve

July 31st, 2017
in macroeconomics

by John Mauldin, Thoughts from the Frontline

“I never liked quantitative easing. Flattening the yield curve is not stimulative; flattening the yield curve is anti-stimulative.”– Ken Fisher

“There is a limit to how much the United States Treasury can borrow.”– Alan Greenspan

“In other words, we have the models we have because of inertia and theology, but also because all we can do is all we can do.”– Kit Webster

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Why the Value of Contemporary Money is Not Dependent on the Value of Gold

by Philip Pilkington

I note that there is oftentimes confusion today when the gold standard era is brought up. The reason for the confusion when discussing this era is because the monetary system functioned in an entirely different way.

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Three Black Swans

by John Mauldin, Thoughts from the Frontline

“The world in which we live has an increasing number of feedback loops, causing events to be the cause of more events (say, people buy a book because other people bought it), thus generating snowballs and arbitrary and unpredictable planet-wide winner-take-all effects.”– Nassim Nicholas Taleb, The Black Swan

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