Did the savings glut or massive monetary expansion cause the boom and the bust?
byAmbrose Evans-Pritchard recently pinned the blame for the financial crisis on “Asia’s `Savings Glut’”. This idea is not new. For readers who may have missed…
Anniversary of the credit crunch
byWe are coming up to the fifth anniversary of the financial crisis, at least for the UK’s banking system, because it was five years…
Debt bomb
byOne for the weekend … A work of brilliance from Dominic Frisby:
Abundance vs. scarcity
byThis classic essay by Frédéric Bastiat was recently featured at Mises.org. It was first published in 1845, as the first chapter of Bastiat’s Economic…
John Cochrane, the grumpy economist, meets the gold standard
byA view from America … 8+% unemployment, now. The GDP, last we checked, crawls along at a 1.5% growth rate, slower than population growth. …
The Iceland and Ireland banking crisis: lessons for the future
byA working paper for the Mercatus Centre: Abstract The economic collapses of Iceland and Ireland after 2008 are the most severe in the developed…
The Mess We’re In
by“The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system…
Subjective value and currencies
by“The issuer’s promise” is a phrase I have used recently to describe the backing for fiat currencies. The purpose of this article is to…
The tale of Jack the pie-maker
byAs with many of his classmates, Jack arrived at his commencement day ceremony with a sense of forboding. Notwithstanding an honours degree in business…
An Olympian hurdle
by“SIR – I’m fairly sure that the problems associated with the Olympics will crop up in my home town: overcrowding, terrorist threats, traffic congestion…