Posts in Economics

John M Keynes tried to make Say’s law into the fundamental issue defining macroeconomics. I believe that economics everywhere up to recent times has been dominated, much more than has been...

I have the Gini index touted as a constant error in the statements that I make that the US is not an unfair society. It is better to aim for a society where people eat than to strive for one where...

The Fifth Anti-Money Laundering Directive (“MLD5”) was published in the Official Journal of the EU on 19th June, 2018, and comes into force on 20th Jan, 2020. As expected, the European Union’s...

The general understanding of money and finance is incredibly limited. I started to notice that people would quote authors where they had not even read the text that they were quoting from. The...

Most payment systems today are based on the deposit of funds and the transfer of credit from one party’s account in a bank or similar organisation to another. If we take the standard nomenclature...

Coins remain legal tender without having an economic basis in specie. They hence, as with paper notes, rest on the fiat declaration of a sovereign in the vast majority of existing states (if not...

In order to value a cryptocurrency, we need to start with what it really is and what a substitute good will be. This is important as all things, including money, have alternatives. BTC — 1 MB...

The thing that few see is that we already have proof-of-stake (PoS). The US Federal Reserve is a prime example of an existing proof-of-stake system with the control of the USD. In the US Fed, a...

Justice is simply the absence of injustice, injustice being the tangible force. Many seek to define justice on its own, and fail miserably. There is a simple reason; it exists in no more than an...

Interventionist politics have played a growing role in all our economic lives. Each bailout is a step that is seldom regained, and as the government steps in, we do less. We expect to be able to...