It was THIS big
A theme which frequently pops up in current financial and economic commentary is that of the burgeoning levels of outstanding debt under which all…
Read MoreNovember, 2017
Bull market breather or beginning of the end?
Stock markets have finally taken a breather over the last fortnight, although the S&P 500 has made a new, marginal, high this week. Cause…
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Are Markets Really as Calm as they Seem?
Indicators for financial market “stress” have reached their lowest levels in decades. For instance, stock market volatility has never been this low since the…
Read MoreDeflation must be embraced
There are two problems with understanding deflation: it is ill defined, and it has a bad name. This article puts deflation into its proper…
Read MoreWill macro-economists ever learn?
As we lurch through successive credit crises, central bankers and economists believe they learn valuable lessons every time, and that the ultimate prize, the…
Read MoreCapitalism and Competition
Market competition is at the heart of the capitalist system. It serves as the driving force for creative innovation, the mechanism by which market…
Read MoreThe Communist Holocaust and its lessons for the 21st century
For at least half a century, nearly every secondary school pupil and university student in Britain has learnt about the evils of Nazism and…
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Benn Steil: The Fed could be tightening more than it realizes
Ten years ago, before the collapse of Lehman Brothers rocked global financial markets, the Fed’s balance sheet stood at $925 billion—mostly U.S. Treasuries. After…
Read MoreIs there a place for behavioural economics in the field of economics?
Recently, a relatively new economics called Behavioural Economics (BE) has started to gain popularity. Its practitioners such as Daniel Kahneman, Vernon Smith and Richard…
Read MoreCapitalism and the Free Society, Part 2
The free enterprise, or capitalist, system has done more to improve the material condition of humanity than any other economic arrangement of human cooperation…
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