Laissez-faire is an economic philosophy that literally translates to ‘let do’ or ‘let go.’ It generally means ‘leave it alone’ in reference to economic policy. Laissez-faire is an import word from the French because the genesis of modern economic thought connected to these ideas was physiocrats in the 18th-century. However, these ideas go back to […]
Author Archives: Mark Biernat
The Economics of Growing your own Food
‘I wish I could grow money’. You can. Growing your own food works. If you are trying to save money or improve your diet from a culinary perspective nothing beats growing your groceries. In this post, I will give you a plan that I personally implement. It saves me substantial after-tax disposable income. This is […]
What are the Causes of Inflation?
Inflation is a monetary phenomenon. Inflation can be defined as an aggregate increase in the prices or a decrease in the purchasing power of money. A price level change can be sustained or temporary. Inflation is sustained. Increases in the price level from exogenous shocks do not continue to increase prices generally. In contrast, when […]
Keynesian vs. Austrian Business Cycle Theory – Explained
I often ask my class to compare the Keynesian explanation for the business cycle compared to a monetary or Austrian explanation of a business cycle. I am primarily looking for the theory, rather than policy recommendations. I am looking for objectivity and positive economic analysis. Here are my class notes summarized in pdf. If you […]
Stock market crash prediction
Markets are hard to predict but economics give insight to the future direction of the stock market. macroeconomic data moving averages or trends analysis quantitative valuations I am getting a Ph.D. in Economics and I am partial to economic influences on the market. It would be irresponsible of me to claim I know the direction […]
General Theory by Keynes – Free Ebook
John Maynard Keynes’ book The General Theory of Employment, Interest and Money published 1936 was a paradigm shift from the classical school. His book was a new understanding of money and markets. Whereas Keynes’ Treatise on Money was an extension of the theory of time, his General Theory started what is known as the “Keynesian […]
Cryptocurrencies – the next evolution of money
Cryptocurrency investing is like choosing Democracy over a King. That is, you are investing in an idea. You believe in decentralized currency and the freedom of economics and money. That being said, the market is hyper inflated. I personally do not invest in this. This post is wild speculation on my part and I have […]
Capital by Karl Marx in PDF
This is a free version of Capital by Karl Marx for download below in PDF. It is not just the book Volume I, that are found on other websites, nor an on-line version where you have to scroll through endless pages in your browser, rather this is Volume I, II and III in one book […]
US Presidential Election 2016
Who will win the 2016 Presidential election? It will be a Trump versus Clinton contest. The main difference between the two candidates are: Trump knows business and Clinton knows government. Under Trump there will be an expansion of jobs and wages. Under Clinton there will be an expansion of government and taxes. I will vote […]
Why and how to opt out of healthcare.gov
I opted out of the Universal health care mandate. I did it legally. Why did I do this and how is the purpose of this post. I opted out and I am glad I did. I choose not to be part of the system because of moral reasons, but I also found a better alternative. […]