Tag: "Keynes"
The Trouble with Inflation25th February 2013
My Economics tutor’s favourite saying was “Inflation is the greatest social evil”. But when we talk about inflation, what do we really mean, and what do we really understand? What is inflation? We’ve been groomed to understand that inflation is the published measure of RPI or CPI. No, this is not inflation, but rising prices. These price rises are a consequence of inflation, which properly defined is an increase in the money supply. Changes in the quantity of money in existence
Carousel Economics and the Trillion Dollar coin14th January 2013
I tend to get a little enthusiastic when discussing economics and the woeful systems and decisions applied to our world by our politicians and central bankers, or indeed by the bureaucrats who seem to pull their strings these days. My tenor is not helped by the mainstream media who often seem to consider that the value of pets doing something vaguely amusing in front of a camera is of greater merit than the financial security of our society. No wonder people seek amusement, as they
Welcome to Robert’s FYI blog21st November 2012
Thank-you for your interest in the FYI website and for finding this opening blog. Writing things down helps to achieve a balanced perspective, and in particular helps me to vent my frustrations with the current woeful lack of real economic thought. No trend lasts forever, and despite howls to the contrary many people did see the 2008 downturn coming; it was the establishment of politicians, bureaucrats and central bankers who believed their own fluff and nonsense, and the coterie of