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.
Further Reading
- The Cobden Centre’s literature, particularly the final chapter of Huerta de Soto, Money, Bank Credit and Economic Cycles
- Money man James Tyler: Money is not working, My Journey to Austrianism via the City, Some people doodle pictures, The violation of Mr Smith, How to deal with the Banksters.
- What is money? — a better measure of the money supply
- Irving Fisher, 100% Money, 1935 — a precis of Fisher’s proposal for 100% reserves
- The kindness of geniuses — on planning and markets — and Economic Interventionism, Banks and the Crisis
- FT.com — “Wall St profits from Fed role” — how QE widens wealth inequality and damages the economy
- How economic thinking becomes entrenched and a fresh perspective
- Our archive of Insight Articles
- Speech by the Earl of Caithness in the Banking Bill debate 2009.
