By both mainstream economists and the general public the cycle of “boom and bust” is believed to be a tendency inherent in any capitalist economy. The fact that the latest of such cycles, beginning in 2008 (and arguably not having ended), originated in the banking sector and that large banks and
In a recent article for Free Life, I noted that, for me, the urge to pen a rebuttal to the work of others come not from trawling through the drivel of a statist, leftist or mainstream pundit. Rather, it comes in response to a libertarian who has spouted some piece of nonsense in spite of being in a position to know better. Today, we will address something similar of this ilk in the realm of economics from Alistair MacLeod, Head of Research at Goldmoney.