Capital and Interest Theory

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Entrepreneurship, Arbitrage, and Capital

Calculation and KnowledgeCapital and Interest TheoryEntrepreneurship

Blog08/18/2007

[Cross-posted at Organizations and Markets]

Over the years I'm increasingly convinced that Israel Kirzner's metaphor of entrepreneurship as costless discovery ...

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Credit crunch + Market Rout = Central bank intervention

Booms and BustsFinancial MarketsCapital and Interest TheoryInterventionism

Blog08/11/2007

The turmoil in financial markets is eliciting the usual response from the central bankers, all up there in their Hueys, 'Die Walkuere' blasting out of their beat boxes. But the fixation on the 'sub-prime' angle and on the Fed's role in isolation only tells part of the story....

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When Buying Sugar in Zimbabwe

Money and BanksCapital and Interest TheoryMoney and Banking

Blog08/01/2007

...it's easier to use the new $200,000 note issued by the RBZ. It is worth US$13 at the official exchange rate or $1 on the black market.

Addendum: Lest anyone...

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US to China: Buy Mortgage-Backed Securities

Global EconomyMoney and BanksCapital and Interest Theory

Blog07/29/2007

As the mortgage-backed securities market meltdown accelerates, Bloomberg reports U.S. Urges China to Buy Mortgage-Backed Securities. According to the article, China buys some but not a lot of these...

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How to Ruin an Economy in One Easy Step

Capital and Interest TheoryMoney and BankingValue and Exchange

Blog07/16/2007

Chris McGreal reports from Harare:

Zimbabweans are shopping like there's no tomorrow. With police patrolling the aisles of Harare's electrical shops to enforce massive government-ordered price cuts...

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Price Control Chaos

The Police StateCapital and Interest TheoryInterventionism

Blog07/02/2007

From the Times:

Price inspectors and police, sometimes armed, descended on supermarkets in the Zimbabwean capital to enforce price controls. Their intervention followed the order issued by Mr...

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How Inflation Lowers Inflation

Money and BanksCapital and Interest TheoryMoney and Banking

Blog05/28/2007

As new money is created by the banking system, it enters the price system as the recipients spend it. As the prices of some goods rise, this should be captured in the CPI, right?

Not necesssarily. New money does not impact all...

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Clinton talks return on investment

Financial MarketsCapital and Interest Theory

Blog05/23/2007

"If you add up all the benefits, it's really astonishing," the New York senator and former first lady said, citing one study that says for every dollar invested in pre-kindergarten, there is at least a seven fold return. -- Hillary Clinton as...

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Deconstructing GovernmentSpeak: When More Regulation Eases the Burden of Regulation

Legal SystemCapital and Interest Theory

Blog05/20/2007

Treasury Undersecretary Robert Steel is complaining about US regulation, stating that the US is losing business to Europe and Asia because of the strangling effects of its regulatory policy. It is said that "cumbersome accounting rules and litigiousness are deterring investors from US...

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