Category Archives: Keynesianism

Bank of England, Bitcoin, BOJ, Budget, Central banks, Commodities, CPI, Crypto, ECB, Emerging Markets, Equities, Europe, Federal Reserve, Fiscal policy, Fixed Income, Government, Inflation, Japan, Keynesianism, Macro, Metals, money supply, Politics, Production, Revenues, Tech, UK, UK Treasury, US Treasury, USA

Burning Holes in Idlers’ Pockets

Posted on by Sean Corrigan

Inflation, Milton Friedman famously said, is a monetary phenomenon. But it is also one given the readiest of outlets through recourse to what we call ‘fiscal’ policy – i.e., by spendthrift governments borrowing money created at their call and forced into the system by means of warfare, welfare, contracting, cronyism, bureaucratic expansion and plain old boondogglery. Arguably, this is where we find ourselves today, in a world where supply is no longer likely to meet demand as abundantly and as effortlessly as has been the case these past twenty years.

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Austrian Theory, Central banks, Economics, Federal Reserve, Fiscal policy, Inflation, Keynesianism, Liberty, Macro, MMT, Money, money supply

MMT Vessels Make The Most Noise

Posted on by Sean Corrigan

As a sort of Keynes-manqué, Stephanie Kelton’s moment in the limelight is being granted her for much the same reason as was that of her more illustrious predecessor: she is telling free-spending politicians what they always want to hear – viz., that their habitual incontinence is statesmanship of the highest order.
With our good professor never missing an opportunity to remind anyone and everyone that her book – a veritable almanac of economic hocus-pocus – tops the non-fiction charts (surely a gross miscategorization if ever there was), we must therefore re-emphasize our view that the REAL peril of Magic Money Tree economics – aka MMT – is what it means for the private sphere in general and the scope for genuine entrepreneurship in particular, NOT whether it causes prices to rise or not. The question is one of liberty, not inflation; real prosperity, not growth.

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Austrian Theory, Consumption, Economics, Entrepreneur, Keynesianism, Macro, MMT, Production

Duck Hunting

Posted on by Sean Corrigan

I’ve entitled this episode of Cantillon Effects, ‘Duck Hunting’, not because I have any sudden urge to blast waterfowl out of the sky, but because a number of economic canards clearly need shooting down before they can find a safe place to roost in the general consciousness and there begin to breed even more confusion […]

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Austrian Theory, Banking, Central banks, Credit, Cycles, Entrepreneur, Keynesianism, Macro, Money

Here we go again…

Posted on by Sean Corrigan

As world stock markets have continued to climb to cyclical – if not all-time – highs, it has become almost the norm for industry Talking Heads to season their smatterings of media insight with a brief, talismanic expression of scepticism, uttered partly to appease the ever-jealous God of the Markets but mainly so as to […]

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Bank of England, BOE, Central banks, Commodities, Credit, ECB, Equities, Europe, Federal Reserve, Fixed Income, Gold, Japan, Keynesianism, Macro, Money, Oil, UK, USA

Pluto’s Republic

Posted on by Sean Corrigan

The more our would-be Philosopher Kings attempt to display the awesome panoply of their intellectual armour, the more we think, not of the Greek sage from whom they seem to draw inspiration, but of Mickey Mouse’s dopey canine friend. In bonds, the Bears are mounting another one of their forlorn hope charges against the central […]

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Austrian Theory, Central banks, Demographics, Intervention, Keynesianism, Macro

The old ones are the best

Posted on by Sean Corrigan

Millennial pessimism being a common affliction of thinkers throughout the ages, we should perhaps not be too surprised that we moderns, too, are prone to stroll along in its strangely seductive shadowlands of the mind.

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Austrian Theory, Bank of England, BOE, BOJ, Central banks, Credit, Cycles, ECB, Entrepreneur, Federal Reserve, Fiscal policy, Intervention, Keynesianism, Macro, Money, USA

Faking it

Posted on by Sean Corrigan

SUMMARY: Thanks to the election of President Trump and to his uncompromising attitude to the establishment media, much hot air is being expended on the subject of ‘fake news’. What we should really be getting worked up about is ‘fake economics’, for this is a much more pervasive evil, as well as a much more […]

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Austrian Theory, Banking, Central banks, Credit, Cycles, Deficit, Entrepreneur, Fiscal policy, Fixed Income, Intervention, Keynesianism, Macro, Money

The Austrian Prescription

Posted on by Sean Corrigan

At the start of the year it has become wearily traditional for us pundits to offer one of two genres of prediction. The first takes the form of a genuine—if ultimately foredoomed—attempt to lift a ragged corner of those thick shrouds of unknowability which separate today from tomorrow. The second combines such futility with a […]

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Austrian Theory, Bank of England, CBI, Central banks, Fiscal policy, Keynesianism, Macro, Theresa May, UK

Ready, Neddy, GO!

Posted on by Sean Corrigan

In the week in which PM Theresa May appeared before the annual shindig of the UK’s most visible Big Business lobby group, the CBI, it was perhaps fortuitous that both her crew and theirs released their latest statements of account.

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