David Ricardo On the Principles of Political Economy and Taxation in PDF

On the Principles of Political Economy and Taxation by David Ricardo was written in 1817. The Economic themes in this book were value and free trade. The book also addresses many subsidiary issues. You can download it here: On the Principles of Political Economy and Taxation by David Ricardo in PDF I recommend you download […]

Michael Woodford – Financial Intermediation and Macroeconomic Analysis – Review

Michael Woodford’s 2010 paper “Financial Intermediation and Macroeconomic Analysis”, improves his theory that was articulated in this book, Interest and Prices (2003). He based this on the data and experiences from the 2008 financial crisis and changing ideas in monetary economics since his 2003 work. I have academic respect for Michael Woodford, this review is […]

Natural Rate of Interest – Wicksell – Loan Capital Equal

Demand and Supply of Loan Capital Equal Wicksell’s second definition of the natural rate of interest is the rate at which the demand for loan capital and the supply of loan capital is equal. Wicksell writes “The rate of interest at which the demand for loan capital and the supply of savings exactly agree, and […]

Natural Rate of Interest – Wicksell’s Moneyless Rate

The natural rate of interest is an unobservable hypothetical rate of interest that was conceptualized by the Swedish Economist Knut Wicksell. There were precursors to this theory, such as Henry Thorton An Enquiry into the Nature and Effects of the Paper Credit of Great Britain in 1802, however, it was Wicksell’s theory that can trace […]

Karl Marx on religion – the logical flaw in Marxist economic theology

Karl Marx was a left-wing Hegelian who argued that God was an “opiate of the masses”. The purpose of this post is to give an answer to Marx’s view of religion for today’s time. Now more than ever, economics and wealth is a hot topic. The idea of the poor, the struggling middle class, and […]