Milton Friedman, Hack & Fraud

by Joe Blackwell

Milton Friedman was not above using sleight of hand and sophistry to ensure his work reached the preferred conclusion. As Serban V.C Enache has shown before in this article, Friedman exaggerated the stability of the velocity of money to support his theory of inflation derived from the quantity theory of money. In light of this, I will highlight another example of Friedman’s use of sophistry to hide the empirical issues the monetarist theory runs into. Continue reading “Milton Friedman, Hack & Fraud”

The Clock’s Ticking for Turkey

by Serban V.C. Enache

The financial picture looks like this:

Turkish Government debt: 28 percent of GDP in 2017, and has been falling for several years. Private sector debt is 170 percent of GDP – and roughly 35 percent of that is denominated in foreign currency. Turkish nominal GDP growth has been solid for several years, even reaching the double digit mark. Continue reading “The Clock’s Ticking for Turkey”

Retirement Age, ’50s Women, Pensions, Contributions, and LVT

Solving the Mess

by Serban V.C. Enache

A few months ago, I wrote an article (Justice for the WASPI and All Pensioners) in which I proposed a return to the previous (lower) retirement age, for both men and women. I made the argument that as technological progress makes societies more efficient and productive with fewer and fewer labor inputs required – it makes no sense to force people to work longer and retire later. Continue reading “Retirement Age, ’50s Women, Pensions, Contributions, and LVT”

Historical and Socialist Views on Immigration

Socialism is NOT Liberalism

by Serban V.C. Enache

In the past, I wrote about open immigration policy being a boon to capital. It’s important to consider both sides of the balance sheet: one country is gaining people, another is losing people. Naive liberals will claim that immigration is great to have in any and all circumstances. Narrow-minded conservatives will argue that immigration is a bane on a country’s health and security. I will completely disregard such delusional thinking, and instead offer what I believe to be a balanced perspective, one that takes into account circumstances – moderation and prudence always being good tenets to follow. Continue reading “Historical and Socialist Views on Immigration”