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Steven Horwitz – Causes and Cures of the Great Recession


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Via the Institute of Economic Affairs, a paper from Steven Horwitz on the causes and cures of the great recession: For many, the Great Recession and the boom that preceded it are evidence of the failure of the supposed deregulation of financial markets in the last decade and therefore constitute an indictment of capitalism more broadly. However, a closer look at both monetary policy and the effects of other government interventions on the financial system tells a very different story. […]

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On double-dip recession, Tullett Prebon rightly ask “What’s the big idea?”


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The latest strategy note from Tullet Prebon asks, “What’s the big idea?” with the subtitle “the imperative need for a new ideology”, writing: Effective government is not simply a matter of management. Even in good times, competence is barely enough. In bad times, ideological clarity is imperative, and the lack of a clear, ideas-based strategy is the black hole at the heart of the coalition administration. This chart is particularly informative: They comment, “The centre-right is in desperate need of a […]

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Crass Keynesianism


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This article originally appeared at cobdencentre.org. Via Thrifty families accused of prolonging the recession – Times Online, yet more crass Keynesianism: Anxious families are repaying debts instead of spending in the shops, amid concern over the uncertain economic outlook. The share of income saved in banks and building societies has risen to its highest level in more than a decade, heightening fears that faltering consumer demand could prolong the recession. But see also Correction, Mr. Bernanke: It is real savings […]

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