The Emperor’s New Clothes

Over at The Cobden Centre, entrepreneur and Austrian-school economist Toby Baxendale stands courageously on the shoulders of great men to explain how we can begin to reconstruct our broken monetary regime. Baxendale explains that we can end the financial crisis, pay off the national debt and give a 28.5% income tax cut. He offers a £1000 prize to anyone who can demonstrate that his plan cannot work, political will aside.

Baxendale claims the support of a range of economists:

  • Irving Fisher, perhaps the greatest American economist.
  • The Nobel Prize winners Soddy, Hayek, Buchanan, Tobin, and Allais.
  • Laurence J Kotlikoff of Boston University whose book, Jimmy Stewart is Dead advocates a similar reform and which is endorsed by at least 36 substantial figures including more Nobel Winners: Akerlof, Lucas, Fogel, Prescott, and Phelps.
  • Jésus Huerta de Soto, whose staged plan for monetary reconstruction in Money, Bank Credit and Economic Cycles also offers the possibility of paying down the national debt.

There is a crisis in the Eurozone. Iceland’s problems are infamous. You can find the news yourself on the US Dollar and the Pound. There is something fundamentally wrong with banking and the monetary regime. Baxendale deserves to be heard.

You can find the article here.

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