Stress Tests don’t work
byCriticisms of bank stress tests continue to mount, particularly as banks continue to struggle. A new problem recently emerged: the marked shortfall between the…
Economics
Inflation To Rise – We expect UK, ECB and US Policy to Diverge
byPurely for geopolitical reasons, namely frustration at the failure of the governments of individual member states to respond to repeated calls for “structural reforms”,…
Bring Back the Gold Gilt
byThis essay was submitted to the Richard Koch Breakthrough Prize for 2017. Executive Summary Our monetary system imposes a form of central planning, based…
The impact of household debt and saving on long run GDP growth
byNeither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry. Hamlet I,…
Toward Tax Freedom and Justice
byImproving Tax Choice through a more democratically-just, rules-based fiscal policy. Summary Although considerable resources are expended upon attempting to influence Government spending, advocacy of…
Benn Steil: Of Debt and Detriment
byIt is the exorbitant privilege of the United States that it can conjure the world’s primary reserve currency, Valéry Giscard d’Estaing, then French finance…
The Austrian Prescription
byAt the start of the year it has become wearily traditional for us pundits to offer one of two genres of prediction. The first…
Inflation: How it occurs and what are its consequences
byInflation: How it occurs and what are its consequences Guided by Austrian school economics, I have attempted to outline firstly the different mechanisms through…
Pool of wealth and economic bust
byIt has now become settled wisdom that the massive monetary pumping by the US central bank during and after the 2008 financial crisis saved…
Price controls and propaganda
byMost economists agree on one thing; price controls do not work. Many go on to say they create shortages of goods, which inevitably drives…