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Archive for the ‘Liberalism’ Category

Bloom of Doom III: Cities Going Bankrupt

2010-02-01 1 comment

Pennsylvania Capital Ponders Bankruptcy” we read in Mish Shedlock‘s commendable blog “MISH’S Global Economic Trend Analysis“. Now, if that doesn’t shed a whole new light on the word “capital“! Read more…

Economic Fallacy II: Speculation is Harmful?

2010-01-27 1 comment

Apart from outright naval blockade or sieges there has probably been hardly another operation considered as deadly and therefore been at times revenged than what is deemed “profiteeringspeculation. The idea to many is that speculation robs honest people of their livelihood. Alleged speculators have been tortured, hanged, disenfranchised, robbed, denigrated, banned, imprisoned, scandalised and impoverished throughout human history and still today economic policy is rife with discussions on how to curb “illicit” forms of speculation. Read more…

Economic Fallacy I: Harmful Currency Undervaluation?

2010-01-26 2 comments

This is the first article in the “Economic Fallacies” series. An economic fallacy is a concept of economic policy or a statement of “fact” or the proposition of an economic “law” which often sound very convincing while being at least incomplete if not utterly false and thus leading to ineffective, wrong, counter-productive, in short: to mostly harmful economic policies.

One of the more dangerous concepts is the myth of the effects of currency undervaluation, i.e. currency pegs at an exchange rate that tries to keep a currency lower than an unfettered market exchange would effectuate. Read more…

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