Essays & News

Fitch, one of the three leading rating agencies, has downgraded the United States’ creditworthiness from the top-notch AAA to AA+. The reasons for this downgrading include not just further fiscal deterioration but also the continuous debt ceiling negotiations that jeopardize Washington’s capacity to pay its bills. This downgrade may not bring about dramatic short-term consequences, especially since […]

When leaders of the BRICS group of emerging economies – Brazil, Russia, India, China and South Africa – convene at a summit in Johannesburg this week, de-dollarization and the establishment of a common currency will be at the top of the agenda. Across Southeast Asia, Africa and the Middle East, there are now concerted efforts […]

Vor 175 Jahren im Geiste des Liberalismus in Wien gegründet, wurde die Neue Freie Presse bald zu einem Sprachrohr der Österreichischen Schule.   Die glänzende Pflege ihres wissenschaftlichen Teiles hat mir die ‘Neue Freie Presse’ schlechthin uentbehrlich gemacht. Ich suchte, was ich brauchte und fand es. Eugen von Böhm-Bawerk (1914)    “Verzögerte Aufklärung” Während in […]

Friedrich Merz, chairman of Germany’s largest party, the Christian Democratic Union (CDU), indicated that a collaboration with the Alternative for Germany (AfD) party at the municipal level could be a possibility. This resulted in an outcry. Especially during the 16-year chancellorship of Angela Merkel, the CDU maintained a strict firewall between themselves and the AfD, […]

Since the end of World War II, the United States dollar has reigned as the global currency par excellence. The 1944 Bretton Woods Agreement anchored all major currencies to the dollar, which in turn was tethered to gold. However, gold was not particularly convertible, and the ceremonial link between the dollar and gold served primarily […]