Mark Carney’s grand experiment began today
byI was grateful to the BBC World at One programme for giving me the opportunity today to comment on Mark Carney’s first Inflation Report….
Price inflation approaching
byThere is some evidence in the UK of a pick-up in consumer spending, probably echoed elsewhere. There are two likely factors behind this, the…
Still waiting
by“This suspense is terrible. I hope it will last.” – The Hon. Gwendolen Fairfax in ‘The Importance of Being Earnest’ by Oscar Wilde. The…
Untangling gold at the Bank of England
byFrom 2006 the Bank of England’s Annual Report has declared the quantity of gold in its custody, including the UK’s own 310 tonnes. Prior…
Mises’ monetary theory compared to other theories
byLots of people talk about “The” Quantity Theory of Money and “The” Equation-of-Exchange. The terms have a familiar feel to them, they’re part of…
Time and Money
byContinued from Et in Arcadia ego Here we come full circle, for what this essentially presumes is that there exist no means by which to…
Et in Arcadia ego
byContinued from Been there, done that, bought the T-shirt Having broadly tried to demonstrate where we differ from our rivals and where we find their…
Been there, done that, bought the T-shirt
byContinued from Scylla & Charybdis The guilty secret shared by many disciples of these two schools is that they are well aware that theirs…
Scylla & Charybdis
byContinued from The Divinity School debate. The devotees of monetarism start from the observation that what they call ‘money’ tends to move in a…
The Divinity School debate
by“…the stoppage of issue in specie at the Bank [in 1797] made no real addition to the financial powers of the country. On the…