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? […]
Tag Archives: profit
Treat Prices and Profits with Reverence
Fixing any price by legislative decree is similar to pretending that a certain chemical result must remain the same even when the complex chemical process is altered. By contriving the end-result and wishing into existence a pseudo-reality, we restrict society from adapting successfully to an ever-dynamic world, and we unknowingly tamper with infinite complexity, leading […]
The Folly that is Nationalisation
When all is said and done, nationalisation is simply the exchanging of majority shareholding from private investors who invested their own funds, to a public entity called the State who invests other people’s funds (taxes). This shift in shareholding is profound. The problem is not that “government doesn’t know how to run a mine.” Few […]