by Shimshon Bichler & Jonathan Nitzan This figure shows the long-term relationship between the conventional measures of inflation and economic growth in the U.S. (series smoothed as 20-year trailing averages). As you can see, the relationship is not positive, but …
Inflation is always and everywherea phenomenon of structural change. — Jonathan Nitzan Milton Friedman has been dead for more than a decade, but his ghost still haunts us. In the 1960s, Friedman declared that inflation is ‘always and everywhere a monetary phenomenon’ — …
We have just updated the charts in our 2014 RWER paper ‘Still About Oil?’, and the picture they portray reads like a capitalist call for arms. Beginning in the late 1980s, we suggested that, since the late 1960s, the Middle East was greatly influenced …
Planning and Anarchy Central planning?! Computers can do it!!! Among the intuitions animating the contemporary left, we must rank rather high the felt sense that powerful new computing technologies now offer a solution to problems of calculation previously insuperable for …