Ouch! — a new book recommended by one of my academic colleagues as widely accessible and very engaging. I understand it “puts most of the books on the crisis churned out by journalists and professionals to shame.” From the jacket: It’s time to wake up or get wiped out. We […]
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Crony capitalism – how big players spoil social cooperation
Again and again, I hear managers ask government for stability. You can’t make plans for capital investment and business without expectations about the future. Government sets up big players in society which not only set expectations through tax and regulation, but which can change their minds, spoiling people’s plans, often […]
Read MoreHow crony capitalism happens – public choice theory
It’s common for politicians and officials to discuss “market failure” before setting out how the government will correct those failures. However, government fails too and with widespread, profound consequences for us all. Why? Dr Eamonn Butler’s Public Choice – A Primer explains how Public Choice Theory applies the methods of economics […]
Read MoreRepublicans eye return to gold standard – FT.com
After much that I have said, written and done, this gives me some satisfaction: The gold standard has returned to mainstream US politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy. via Republicans eye return to gold standard […]
Read MoreThe awful unspoken truth about QE
Via Conservative Home’s blog The Deep End, an interesting question about QE: If the Government is just going to print money, why can’t we have some? Of course, if you started to give the cash directly to the people, then they might finally understand that our entire economic system runs on […]
Read MoreInflation jumps unexpectedly? Surprise?
Via the Telegraph: The Office for National Statistics said its consumer prices index (CPI) measure of inflation rose to 2.6pc in July from 2.4pc in June, driven by a 21.7pc rise in the cost of flights which saw overall transport prices rise by 1pc. And via ToryOutcast: “UK inflation jumps unexpectedly in […]
Read MoreThe drive to resume credit expansion and recent growth in private employment
Last night’s news coverage of the Bank of England’s prediction of no growth in 2012 was wearily predictable. There were calls for one last rate cut, more “monetary accommodation” and then turning to the Chancellor for more government spending. We can’t borrow and print our way to prosperity. That’s how […]
Read MoreSteven Horwitz – Causes and Cures of the Great Recession
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 […]
Read MoreThe triumph of politics » The Cobden Centre
At The Cobden Centre, Detlev Schlichter explains that, The biggest threat to your property and to your individual liberty does not come from markets and not even from the bankers. It comes from politics. I feel sure he is right. We’ve had decades of excessive political promises paid for by high […]
Read MoreGold – an independent money?
Occasionally, someone will describe me as “a gold bug”. I shouldn’t be surprised. My usual answer when someone asks me why I always have an ounce of silver in my pocket is, “I can’t afford to lose an ounce of gold.” The truth is that the debate over commodity-backed money […]
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