No Clear Nor Close Target

No Clear Nor Close Target

Price stability and a positive rate of inflation should not be the aims of a monetary authority, as such policies tend to create severe financial instability. Prices should fluctuate to reflect the productivity of individual industries and the economy as a whole, and the efficient (or inefficient) allocation of resources.

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Time Preference

Basically, the law of time preference says that, ceteris paribus, individuals prefer to achieve their goals as quickly as possible. Or, to put it another way: Other things being equal,...


What is fascism?

Fascism is a term that was banalized by the left, just like the terms Nazism and Nazi, that stand for National Socialism and National Socialist, respectively. Especially after the rise of far-left groups, such as the Antifa, amongst the youth, the words fascism and fascist are used over and over again to attack their enemies.

Socialism and fascism: Two sides of the same coin

If we think of what has been the European political debate throughout the last century, undoubtedly, we could not fail to consider it as the product of two big apparently opposite ideologies: socialism and fascism. They have characterized—and they still characterise—, the political life of a whole century, exploiting a specific propaganda which had the goal of creating the idea of two kinds of economic and political structures, born to be genetically contrasting.In fact, they have been much more similar than socialists and fascists would have desired and believed.

Negative and Positive: Two Concepts of Liberty

If you like the article’s title, I have to be honest with you: It is not my work. It is the essay’s title written by Isaiah Berlin, the first one who theorised about two kinds of liberty. According to what Berlin wrote, we could face two different varieties of freedom: negative and positive.

Freedom or equality: Why we can’t have both

Even more often we hear slogans which extol freedom and equality, as old socialist purposes. Almost every European left-wing party has used these ideals in its political narrative, uniting the main images that the socialist world has wanted to show about itself, in the second-half of the 20th century. It is hilarious that the representatives of the totalitarian regime, which had wiped out half of Europe with its coercive power, destroying all sorts of individual freedoms, would talk about freedom.


The ECB is raising rates, but it is also committed to buying more government bonds

Like the Fed, the ECB is just pretending to fight the high CPI. The fact that the ECB’s balance sheet has stopped increasing and that eurozone’s M2 is increasing at a slower pace than in 2020 and 2021 are factors that reduce the pressure on price increases, but this only means that, best case scenario, the ECB will be able to bring the CPI to lower levels. It is less likely that prices will return to pre-2021 levels. This would require a price deflation.

The real meaning of inflation

A distinctive feature of the economists of the so-called “Austrian School of Economics” is that they advocate a theory of money considerably different from that of their colleagues in other schools of economic thought.
The differences between the aforementioned approaches already begin in the very definition of the word inflation and this will be the main topic of this article.


The people in charge are doing a terrible job

We are used to seeing press conferences discussing what measures will be or have been effective at reducing the spread of SARS-CoV-2. The media appears to assert almost axiomatically that if a restriction or mandate will reduce the spread of the virus, it should be implemented and there should be no further debate. Despite – at least in the case of the British Government’s SAGE committee – the dozens of fundamental u-turns on issues such as the safety of schools, efficacy of general mask usage, feasibility of herd immunity, and even Matt Hancock’s alarming uncertainty on the effectiveness of the vaccines, we are told time and time again to “trust the science.” To question their ever-changing gospel is to be “anti-science”, “a dangerous conspiracy theorist” and worthy of censorship, but scientific truth is decided by the universe, not by scientists.

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Qu’est-ce que l’argent ?

Qu’est-ce que l’argent ?

Les gens sont en constante recherche pour satisfaire leurs besoins. Cependant, il nous est très difficile de nos jours de pouvoir satisfaire seuls nos besoins. Il est impossible pour une seule personne de produire tout ce dont elle a besoin pour avoir une vie minimalement moderne : il n’est pas possible d’obtenir le temps, encore moins, toutes les connaissances nécessaires pour apprendre à tout produire (HAYEK, 1945). Il est naturel que chaque personne soit meilleure dans certaines tâches que dans d’autres, de sorte que les gens se spécialisent dans différentes tâches (MISES, 2008).

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Le vrai sens de l’inflation

Voyons d'abord quelle est la définition courante de l'inflation. Selon Mankiw (2016) l'inflation est :L’augmentation du niveau général des prix de l’économie (MANKIW, 2016, p. 40).D'autres...


Preferência Temporal

Preferência Temporal

No século XIX o Economista Austríaco, Bohm Bawerk, introduziu o que hoje conhecemos como preferência temporal.
Nas palavras do Bawerk:

“Bens presentes sempre têm mais valor do que bens futuros da mesma espécie e quantidade.”

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Últimos Artigos

O que é fascismo?

Mas afinal, o que é o fascismo? Essa é uma pergunta que a maioria das pessoas não sabe responder. É normal que a maioria das pessoas não saiba o que realmente é o fascismo, porque a maior...


Qu’est-ce que l’argent ?

¿Qué es el dinero?

Las personas están en constante búsqueda de satisfacer sus necesidades. Sin embargo, hoy en día es muy difícil para nosotros ser capaces de satisfacer nuestras necesidades solos. Es imposible que una sola persona produzca todo lo que necesita para tener una vida mínimamente moderna: no es posible obtener el tiempo, y mucho menos, todos los conocimientos necesarios para aprender a producirlo todo (HAYEK, 1945). Es natural que cada persona sea mejor en unas tareas que en otras, por lo que las personas se especializan en diferentes tareas (MISES, 2008).

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Últimos Artículos


Socialismo e fascismo: Due facce della stessa medaglia

Socialismo e fascismo: Due facce della stessa medaglia

Se pensiamo a quello che è stato il dibattito politico europeo nel corso dell’ultimo secolo, senza dubbio, non possiamo non considerarlo come il prodotto di due grandi ideologie apparentemente opposte: il socialismo e il fascismo. Queste visioni hanno caratterizzato- e caratterizzano tuttora- la vita politica di un intero secolo, sfruttando una specifica propaganda che aveva l’obiettivo di creare l’idea di due tipi di strutture economiche e politiche, nate per essere geneticamente contrapposte. In verità, sono stati molto più simili di quanto socialisti e fascisti avrebbero voluto e creduto.

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