A common misconception is the attribution of the Great Depression to the failures of Capitalism. Excessive greed from Wall Street Capitalists, artificially inflating the NYSE through speculation, produced an economic calamity – a tale told by Socialists and misguided historians alike. While the Wall Street Crash of 1929 provoked an initial economic contraction, the declineContinue reading “Roaring Twenties to Depressing ’30s”
Tag Archives: inflation
Friedman’s Fallacies
The most influential economist of the late 20th century, Milton Friedman, had a revolutionary effect on today’s world. The turn of 1980 marked a rebirth of economic liberalism and monetarism, a departure from the misguided stop-go monetary and Keynesian fiscal policies. The work of Friedman gave free market leaders in Reagan and Thatcher the frameworkContinue reading “Friedman’s Fallacies”
Inflation Promotion Act?
Faced with the prospect of a tidal wave of Democratic Party losses in the upcoming midterms, the first incoherent President embarked on a mission to pass what he termed the most ‘progressive bill’ since FDR. Slimmed down from the infamous ‘Build Back Better’ bill that featured a series of unfunded spending pledges, the wasteful spendingContinue reading “Inflation Promotion Act?”
Unbearable Unions
Unions. Source of much political and economic instability. The current inflation crisis, reminiscent of the 1970s, brings to light the chaos that they caused during that tumultuous decade. Thankfully, the efforts of successive Conservative and Labour administrations in the UK have limited their powers, relegating the Socialist dystopia of mass unionisation and collectivism to Marx’sContinue reading “Unbearable Unions”
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