Bitcoin Is Failing As Money—But Bitcoin Cash Isn’t
Money has three principal functions: as a medium of exchange, as a store of value, and as a unit of account. Secondary attributes that have aided the adoption of various forms of money include...
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Automation, Space Colonization & The Post-Transactional Economy
Image: NASA “How is this even a business?” my late father asked when I described a notional model for human space colonization. “How are you going to make money? What product are you going to sell?”...
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Is Jeremy Corbyn The Answer?
Labour’s defeat in the 2015 election may have been as much of a function of demographics as anything much else. As I wrote earlier this week: “Britain is greying, and older people tend to be more...
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Rich people prefer productive companies while the poor prefer shiny lumps of...
Gallup’s poll on Americans’ favorite investments always makes fascinating reading. Every year, Gallup asks Americans to choose the best investment from the following choices: Real estate, stocks and...
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Is there life on Jupiter’s moon?
The hunt for alien life just made a pretty big breakthrough. Unfortunately — or perhaps fortunately — we’re not anticipating flying saucers on the White House lawn anytime soon. Instead, scientists...
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Would you cuddle a stranger for $80 an hour?
Cuddling feels great. But cuddling also has lots of quantifiable medical benefits. It releases the trust hormone oxytocin, which creates a sense of well-being and happiness, and endorphins, which are...
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The London Real Estate Bubble
In October, London real estate asking prices jumped 10%. In my view is kind of parabolic-looking jump has developed out of quite a silly situation, and one I think is a good exhibit of just how...
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What America Really Thinks About Obamacare
When I see discussion of Obamacare in the media and especially on blogs, I often see the impression that Obamcare is a communist scheme to impose socialised medicine in the United States: Actually,...
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In The Long Run We’re All Dead
Niall Ferguson’s bizarre attack on John Maynard Keynes which he has now apologised for — claiming that Keynes’ lack of children led to him taking an irresponsible attitude to the long run — has...
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Why the Gold Crash? The Failure of Inflation to Take Off
One of the key features of the post-2008 gold boom was the notion that inflation was soon about to take off due to Bernanke’s money printing. But so far — by the most-complete inflation measure, MIT’s...
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The Gold Bull Market Is Over
I tweeted on Friday morning: I’m going to start work on a piece entitled “The Gold Bull Market Is Over”. I might be wrong, but it seems that way. — John Aziz (@azizonomics) April 12, 2013...
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Judge, Jury & Executioner
I’ve criticised Rand Paul in the past on a few issues, but none of my previous doubts and nitpicks can dilute the sheer brilliance of his almost-thirteen-hour filibuster. The absurdity of the legal...
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Do Creditors Exploit Debtors, or Vice Versa?
I’m asking this question because I think a proper understanding of the answer is a giant leap toward grasping the geopolitical realities of the relationship between America and China. This discussion...
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Humanities Scholars Baffled By Math
Via the Wall Street Journal: In the latest study, Kimmo Eriksson, a mathematician and researcher of social psychology at Sweden’s Mälardalen University, chose two abstracts from papers published in...
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FBI Labels Occupy As Terrorists
It’s disturbing enough that the FBI and Department of Homeland Security determined to investigated Occupy Wall Street as a “domestic terrorist” group. But the reality is even more absurd than that. Via...
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Why Modern Monetary Theory is Wrong About Government Debt
I’ve taken some criticism — particularly from advocates of modern monetary theory and sectoral balances and all that — for using total debt rather than just private debt in my work. The modern monetary...
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The Growing Probability of a One State Solution
The unstoppable force of Israel’s settlement movement is about to hit the immovable object of Israel’s desire to be a Jewish-majority democracy. Israeli politicians may have paid a whole lot of...
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Too Big To Jail
What’s worse than unjust and ineffective laws like the failed War on Drugs and the failed sanctions on Iran? Unjust and ineffective laws that apply to ordinary folks, but not to banksters: When the...
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Gun Control? No, Drone Control
The terrible massacre committed by a mentally-disturbed man in Newtown, Connecticut last Friday has prompted lots and lots of calls for gun control in the United States, as well as some calls for more...
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Who Should Be Giving Thanks This Thanksgiving?
Not the wider public. Our financial system is broken. Our political system is broken. Oligarchs and their cronies reap easy rewards — bailouts, crony capitalism, corporate handouts, liquidity...
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