Nicolas Cachanosky

Taxes: The Seen and the Unseen

If an inflation tax falls in the forest, and not one in a million understand it, does it make a sound?[1] According to a recent news report by Reuters, “President […]

Monetary Equilibrium and Relative Prices

There’s long been debate on the role of an elastic money supply in achieving monetary equilibrium in a free market. Namely, should the money supply follow a 100-percent reserve requirement […]

What Does Regime Uncertainty Look Like?

To follow the development of the Euro crisis it sometimes feels like watching a slow motion movie where we know the final result, but we don’t know how is it […]

What Does it Really Mean to “Peg” Money?

For economics, money seems to be the exception to the rule, the thing that the market cannot provide by itself.  Therefore, it is said, the economist and the government must […]

China’s Hard Landing and Hayek

A few days ago, Paul Krugman defended the position that “Friedrich Hayek is not an important figure in the history of macroeconomics.” This triggered quite a few reactions (here, here, […]

Rules versus Solidarity

A recent news item in The  Washington Times describes the political situation among European countries. In the article two opposite suggestions of how to deal with the crisis can be […]

Three Comments on the Gold Standard

The financial crisis in 2008, the uncertainty about the future of the Euro and the doubts on the efficiency of monetary policy has brought some renewed interest in the gold […]

Gold bugs and Paper bugs

At Free Banking blog, Kurt Schuller points to Ralph Benko’s reply to Roubini’s statements that “this idea of a gold standard is pushed every other day by these gold bugs […]