As the technological tide envelopes the old modes of state parasitism at an accelerating rate, the state is being forced by history’s march of progress into perhaps the most dramatic and unpredictable metamorphosis ever seen.
The fear of deflation is sweeping across the globe. By ‘globe’ I really mean the clique of elite policy makers, bankers and the economists they employ. The rest of us mere mortals are positively chuffed about deflation – whoever said “no” to lower prices? So why are policy makers and economists so scared of deflation? […]