Page 14 - Human Action News Today

Monetary Pumping and Idle Resources May 6th 2021, 11:31 am A loose monetary policy that is aimed at boosting use of idle resources wont work. Idle resources only become profitable and efficient when we have enough real savings Unfortunately, easy money policies destroy real savings Image Credit: Email As a result of the recent stimulus policies employed by the US government and the Fed, most commentators are of the view that the risk of a deepening slump in the US economy on account of the cov...

Joe Biden has spent his first 100 days spending trillions of dollars, and in his address before Congress last week, he announced that he wants to spend a lot more. President Joe Biden’s address to a joint session of Congress on April 28, 2021 marked the first 100 days of his administration, and enabled him to lay out his vision and vistas for government policy. Besides promising even more trillions of dollars in federal spending, it showed what guides his thinking: Nothing is possible without...

Robert Mundell, winner of the Economics Nobel in 1999, recently passed away at the age of eighty-eight. As many of the obituaries have explained, Mundell is considered the intellectual father of the euro and was associated with the supply-side revolution in economics in the early 1980s.

Bob Murphy’s Study Guide for Man, Economy and State Is Excellent! Water Privatization Subject: Man, Economy & State Dear Sir, I’ve read “Man, Economy & State” twice now. I have understood some concepts & have not understood some. I have no background of Economics or Finance.  I will be reading “Human Action” next. Are there any classroom lectures explaining in details MES & Human Action? I have heard Human Action podcast but it’s not explaining the books in details.  Kindly let ...

Printing Money Can’t Replace Real Savings April 14th 2021, 11:53 am If monetary stimulus could strengthen real economic growth, then world poverty would have been eliminated a long time ago Image Credit: Email Between January 1970 and December 2020 on average changes in money supply preceded changes in real economic activity by fourteen months, as depicted by real gross domestic product (GDP). Based on this it is tempting to suggest that a strengthening in the growth rate of money supply ...

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I can prove anything with statistics, except the truth — Lord Canning, c. 1819 Does Canning’s aphorism still hold true, given that data collection and statistical analysis have progressed beyond all recognition in the last two hundred years? This article tests that proposition. It is still true, because of the interests for which statistics are deployed. We know, or should know, that CPI indexation of prices fails to reflect the true rate of decline in the purchasing power of fiat curren...

Aquinas and Human Action Following are some notes from this two-part talk (all quoted items are paraphrases, hopefully reasonably accurate): It is taken for granted that human agents have free will or free agency – we have the experience, day to day, of being confronted with options and being able to opt between such options.  This offers a truncated picture, a picture of lower appetites. This is David Hume’s “reason,” when he wrote: “Reason is, and ought only to be the slave of th...

by Robert Murphy via Mises Amid the controversy over GameStop, many cynics argued that something sinister was clearly afoot because the hedge funds had shorted 138 percent of the outstanding shares. In this article I’ll review that particular claim, as well as another seemingly dubious practice, so-called naked short selling. My conclusion is that shorting more than the total outstanding shares isn’t perverse or fraudulent, whereas naked short selling—depending on the context—mig...

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