Essential Reading

tariffs and free trade

Tariffs: The Trumpian Argument

Protectionism for the modern age.

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Why do we trade, anyway?

The theory of cupcakes. And comparative advantage.

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The Greed For Gold

[Preamble: in 1930, Keynes wrote an essay on gold titled “Auri Sacra Fames”. The phrase loosely translates as “the accursed greed for gold”, and derives from the idea that money is the root of all evil. I read it earlier this week, and I wanted to share some of it. Whatever you feel about Keynes, the man could […]

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fed balance sheet

Unwinding the Fed Balance Sheet

And deflating the asset pricing bubble.

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Bitcoin: The Crashes

2012 to 2018.

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keynes and leisure

Learning to live with leisure

Keynes wrote about the economic possibilities of his generation's grandchildren. That would be us.

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A Decade of Global Wealth Shifts

For richer, for poorer

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The Wealth Misconception

Whenever anyone talks about wealth inequality, the definition of ‘wealth’ is taken for granted. We do not think of it as a concept or a measurement – instead, people seem to see it as something tangible, that can be split and reworked. Perhaps we imagine it to be Scrooge McDuck’s fortune: gold coins and jewels in a […]

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oxfam inequality

Inequality and Oxfam: The 2018 Edition

All the oxfam rhetoric.

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fiat money

Is fiat money really unbacked?

Well, no. Fiat money is backed. But if you already think that it's unbacked, then you're probably not going to like how.

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