Antony Mueller
How Government Ruined Higher Education
Education suffers from the same dilemma as state-run health care: the potential for cost saving remains unfulfilled since no incentives for efficiency exist. In order to get the subsidies and…
Macroeconomic Highlights of 2018: A Retrospective
In 2018, all major institutions that provided the basis for the international order since the second half of the past century have come under fire, from NATO and the United…
Where Does the Idea That Deficits Don’t Matter Come From?
While Karl Marx has served as the supplier of the political slogans, the economist Michal Kalecki has provided the guidelines for the actual policy in many parts of the world.
The Marshall Plan: Fiction and Facts
The financial part of the Marshall plan was not the decisive factor in the West European recovery. What mattered was economic liberalization, relative monetary and fiscal stability, and the promotion…
The Stock Exchange Demystified
There is an indissoluble link between capitalism and the stock market. Over the long run, stocks will rise when capitalism flourishes and fall when the entrepreneurial spirit wilts. Therefore, a…
Stagflation: Can It Happen Again?
The combined effort of the central banks of the United States, Japan, and Europe to “stimulate” their economies has initiated an asset price bubble.
Economic Systems and the Fate of Civilization
Modern democracy suffers from the contradiction that while most citizens mistrust the politicians and the state, and want fewer taxes and less state control, each voter is eager to use…
What Happened at Bretton Woods?
At the end of the Second World War, the United States assumed the helm of global leadership at the international monetary conference at Bretton Woods in the New Hampshire in…
Brazil: The Challenges Ahead
The economy is in depression, the unemployment rate is in the double digits, and the fiscal situation is bleak.
Why Debt-Driven Booms Are Unsustainable
Modern central banking claims to make the money supply more elastic to stabilize the economy. The rationale says that left to itself, the market economy is unstable. Yet the evidence…
