James M. Buchanan (1919-2013)

James M. Buchanan: Economist, Philosopher, and Teacher. Requiescat In Pace.

Link to my Forbes article

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My latest in Business Day on inflation & currency value

Downward-trending inflation ensures rand will not become worthless Despite the recent inflationary pulse, monetary conditions now suggest a resumption of the downward trend within a year 03 AUGUST 2021 - 10:32  RICHARD J GRANT “The rand is worth nothing,” was a regular refrain 30 years ago. It was not true then, just as it is not true now. But by 1991  ...   Continue reading at Business Day https://www.businesslive.co.za/bd/opinion/2021-08-03-richard-grant-downward-trending-inflation-ensures-rand-will-not-become-worthless/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1627979858
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Why nationalising the Reserve Bank is a dangerous move

The Bank’s shareholders have little influence over policy, but their involvement is essential for transparency and openness , writes Richard J Grant 03 July 2018 - Richard J Grant Recent calls to "nationalise" the Reserve Bank imply that the Bank is a private entity, raising questions about the correspondence between legal definitions and the realities of control, policy making, and administration. In fact, the Reserve Bank is a statutory creation of Parliament, which also determines the main policy goals that the Bank is tasked to fulfil. More than half of the Bank’s board of directors, including all the executive directors, is appointed by the president of SA in consultation with the finance minister and a governmentally appointed panel. That panel, in turn, approves a list of candidates from which eligible private shareholders may elect the remaining board members. The private shareholders have … Continue reading at Business Day https://www.businesslive.co.za/...
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New articles on Substack:

See all:  https://richardjgrant.substack.com Most recent articles:    Delta, epsilon, … short gamma: Or how we can ruin everything https://richardjgrant.substack.com/p/delta-epsilon-short-gamm a Bolt down the debt ceiling https://richardjgrant.substack.com/p/bolt-down-the-debt-ceiling
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