The rules of sovereign debt
byBonds have three features that differentiate them from equity instruments. They involve fixed and contractually binding interest payments. They have a finite maturity. Finally,…
Economics
Monetary fallacies
by Alasdair MacleodOne rationale for quantitative easing is that it encourages economic growth. This must be based on the belief that monetary inflation is good for…
Preparing for Euro breakup
by Prof Philipp BagusIn this essay we evaluate the alleged costs of a euro exit and propose practical steps to make a withdrawal from the euro as…
Gingrich adopts gold standard model
by Toby BaxendaleAmerican Principles Project: Washington, D.C.–Republican presidential candidate and former House Speaker Newt Gingrich called for “hard money with a very limited Federal Reserve” at…
How a smaller government made the iPhone possible
by Allan StevoFrom the inglorious year 1913 until 1984 the United States had a government sanctioned telephone monopoly, in some form or another, with very heavy…
Slovakia should refuse an increase in the size of EFSF
by Juraj KarpišSlovakia’s parliament recently voted against the proposed increase to the EFSF. The BBC’s Rob Cameron says “a second vote could be held soon and…
Groundhog Year!
by Tim Price“If you are going to buy worthless banks then it makes sense to use worthless money to do it.” – Posting on The Daily…
The second crisis of socialism
by Detlev SchlichterThe world is facing the worst financial crisis since at least the 1930s “if not ever,” the Governor of the Bank of England said…
The success of Swedish society is not due to the welfare state
by Dr Tim EvansSo argues Nima Sanandaji in a new paper from Libera called ‘The Swedish Model Reassessed – Affluence Despite the Welfare State’ (PDF). Instead, the…
What to do, what to do
by Ingolf EideMartin Wolf has usually managed to moderate his inner interventionist. No longer, it seems. In a recent column, he casts caution aside: The time…