fiscal policy

  Global debt reached alarming new heights in 2025. Worldwide debt – public, corporate and household – increased by nearly $29 trillion to approximately $350 trillion, bringing the global debt-to-GDP ratio above 300 percent. Nearly two-thirds of that increase came from advanced economies, driven primarily by government deficit spending. The trend has worsened in 2026. At the […]

  Central bank independence isn’t just wonky economic theory. It’s a stabilizing force in fiat money-using economies. When shortsighted politicians control monetary policy, the public suffers. Consider that with a 10 percent inflation rate, a $50,000 salary loses $5,000 in purchasing power annually—that’s a month’s rent, a year of groceries, or your child’s college savings evaporating. […]

We are pleased to announce a new collaboration between the Institute for Research in Economic and Fiscal Issues (IREF) and the European Center for Austrian Economics Foundation (ECAEF), focused on publishing a series of articles on economic and fiscal topics. It emphasizes our commitment to independent thought, academic freedom, and critical inquiry.   On July […]