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Welcome

The Cobden Centre has been established to promote social progress through honest money, free trade and peace. We are named after Richard Cobden, the MP credited with establishing free trade in the general interest and who said:
I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency...

Recent articles

Budget deficit and economic growth

16 December 14 by Dr Frank Shostak

Some economists such as Nobel Laureate Paul Krugman hold that during an economic slump it is the duty of the government to run large budget deficits in order to keep the economy going.  On this score given that during 2011 to 2014 the rate of growth of real gross domestic product (GDP) hovered at around […]


The Case For Monetary Freedom And Free Banking

15 December 14 by Dr Richard M. Ebeling

There has been no greater threat to life, liberty, and property throughout the ages than government. Even the most violent and brutal private individuals have been able to inflict only a mere fraction of the harm and destruction that have been caused by the use of power by political authorities.

The pursuit of legal plunder, to […]


Spare dollars

 by Alasdair Macleod

Last week I wrote that contrary to the prevailing mood US dollar strength could reverse at any time. This week I look at another aspect of the dollar, which almost certainly will become a significant source of supply: a global shift out of it by foreign holders.

As well as multinational corporations that account in […]


Red alert: financial markets facing possible derivatives crisis (again!)

14 December 14 by Alasdair Macleod

There is a significant risk that the financial effects of the collapse in the oil price could spread through the financial system. Already there must have been significant transfers of value through OTC derivative markets, whose gross notional value is about $700 trillion. Roughly $300 trillion of this is with the top US banks as […]


Models, Damn Models and Statistics, or Math Gone Mad

12 December 14 by Prof Kevin Dowd

Parliamentary committees are not especially noted for entertainment, but the November Treasury Select Committee hearing on the Bank of England’s Inflation Report is a refreshing exception. The fun starts on p. 30 of the transcript of the hearings with Steve Baker MP and Bank of England Governor Mark Carney light-heartedly jousting with each other.

Steve begins […]