Savings, investment, and the Keynesian preference
Neo-classical economists underestimate the importance of the link between savings and investment. The two should be regarded as linked together: you need savings to…
Read MoreMarch, 2012
PoliticsHome dialogue on QE
PoliticsHome have published an email exchange between Steve Baker and Austin Mitchell, Labour MP for Great Grimsby: The controversial strategy of increasing the money…
Read MoreCameron, Nasim Taleb and cutting debt
Nasim Nicholas Taleb, author of the bestselling book The Black Swan, has been a favourite philosopher and financial commentator of ours for some time….
Read MoreRomney v. Obama: the 2012 race may hinge on the Fed
A view from America … Mitt Romney is the favorite to win the Republican nomination for president. If nominated, the campaign against Obama may…
Read MoreShadowlands
The fallacy [that the Bank cannot overissue money] lies in not distinguishing between an advance of capital to Merchants and an additional supply of…
Read MoreDoes the ‘recovery’ matter?
I was thinking of starting this blog with a cynical comment along the lines of, “last week equity markets came off, I think we…
Read MoreAsia’s golden future
For most of the last century the default currency for international settlements has been the US dollar. This has given America ultimate power over…
Read MoreWhat is money?
On BBC Radio 4 tonight at 8:30: We dream about it, argue about it, worry about it, celebrate it, spend it, save it, we…
Read MoreMuppets 1 Gollums 0
It was just past 7:00 a.m. on the morning of Saturday, September 13, 2008. Jamie Dimon, CEO of JP Morgan, went into his home…
Read MoreLaundered money
Under cover of its multiplicity of fabricated wars on drugs, terror, tax evasion, and organized crime, the US government has long been waging a…
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