Chapter 6: America, Won and Lost.
After the United States gained its independence from Britain, it became powerful in the world in two very different ways: as an idea,…
Read MoreEconomics
Changes in government deposits and money supply
The US debt ceiling suspension, signed in February 2018, expires at the beginning of March this year. Some commentators are of the view…
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Capital Flows – is a reckoning nigh?
Borrowing in Euros continues to rise even as the rate of US borrowing slows The BIS has identified an Expansionary Lower Bound for…
Read MoreDon’t be so negative
“FED’S WILLIAMS SAYS IN A DOWNTURN WE COULD CONSIDER QUANTITATIVE EASING, NEGATIVE RATES.” Tweet by Reuters’ Jennifer Ablan, reporting on a speech by…
Read MoreImportance of model building in economics
In the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
Read MoreTax cuts without reducing government outlays is not possible
According to many economic experts and commentators, an effective way to generate economic growth is through the lowering of taxes. The lowering of…
Read MoreFlying Pigs
Future of Artificial Intelligence in the European Parliament
Last month I organised the Future of Artificial Intelligence in the European Parliament. We had the IMF, United Nations, OECD and companies like Intel…
Read MoreChapter 5: Bubbles and Adam Smith.
This chapter explores how laws enabling debt to be bought and sold transformed Britain. Suddenly, vast quantities of money and value were being…
Read MoreDoes transparent monetary policy lead to economic stability?
In his various writings, the champion of the monetarist school, Milton Friedman, argued that there is a variable time lag between changes in money…
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