I have been busy with my colleagues at our new educational charity for honest money: Steve’s posts at The Cobden Centre. See also: What is money? Irving Fisher, 100% Money, 1935 The Problem with GDP The kindness of geniuses Henry John “Harry” Patch (17 June 1898 – 25 July 2009) […]
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Irving Fisher, “100% Money”
Via The Cobden Centre » Honest money, a summary of economist Irving Fisher’s “100% Money”: The 100% proposal is the opposite of radical. What it asks, in principle, is a return from the present extraordinary and ruinous system of lending the same money 8 or 10 times over, to the […]
Read MoreThe Cobden Centre: What is money?
Writing for The Cobden Centre, I ask “What is money?“: In their working paper “Assessing UK money supply measures in the light of the credit crunch”, Toby Baxendale and Anthony J. Evans provide a better measure of the money supply. In this article, Steven Baker explores the background to the […]
Read MoreFTSE 100: stock market has best month in more than six years – Telegraph
Via FTSE 100: stock market has best month in more than six years – Telegraph: The stock market has enjoyed its best month in more than six years, boosting the savings of millions of investors and bringing hope that the worst of the recession may be over. The FTSE 100 […]
Read MoreBritish banks highly vulnerable to future shocks, Bank of England warns – Telegraph
Via British banks highly vulnerable to future shocks, Bank of England warns – Telegraph: Britain’s banks remain over-indebted, highly vulnerable and harbour growing funding gaps which leave them susceptible to future shocks, the Bank of England has said. … In a sign of the strain facing nations’ public finances – including […]
Read MoreThe Cobden Centre: for honest money and social progress
I am delighted to report that I have established The Cobden Centre, an educational charity for honest money and social progress, together with founder Toby Baxendale. You can find out more at our web site. The Cobden Centre provided this site’s previously-published reading list, Rethinking Economics. Over the coming months, […]
Read MoreYet more new money
Present economic circumstances seem perilously close to those described by scholars of the monetary theory of the trade cycle: The Bank of England has pledged to pump another £50bn into the economy as it steps up efforts to haul the UK from its worst recession in at least two decades. […]
Read More“The Pretence of Knowledge”: how economists come to make astrologers look good
(Update: This post is attracting significant traffic, so I have indicated three Austrian-School primers throughout the text. Please click the images for the publications.) It seems everyone is talking about swine flu and the financial crisis, but they seem to be most persistently interested in what has gone wrong with […]
Read MoreQuantitative easing explained: “Who would be a central banker at the moment?”
From the FT, Quantitative Easing Explained provides an approachable description of the process. However, Dr Anthony Evans writes: Despite the confusing terminology, quantitative easing is nothing new. It is simply an exotic label for a discredited policy. And: The amount of currency in circulation was growing at 12% in January […]
Read MoreThe Revolution: Ron Paul vs Alan Greenspan
Ron Paul’s manifesto, The Revolution, is a remarkable read, not least for his account of Alan Greenspan: Few Americans during his tenure knew that Greenspan had once been an outspoken advocate of the gold standard as the only monetary system that a free society should consider. Not long after my […]
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