The European Stability Mechanism is Critical to the Future Functioning of the Euro
In the ten years since the first iteration of the European Stability Mechanism (ESM) emerged, its status has changed markedly. Initially, it was just…
Read MoreBanking
The Theory and Brief History of Money and Banking
[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] The…
Read More100% Banking and Its Advocates: A Brief History
By Edward W. Fuller The 100% reserve plan is often considered a radical proposal for monetary reform. This article discusses the history of 100% banking…
Read MoreThe Ghost of Failed Banks Returns
Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP,…
Read MoreThe Bank’s ‘Stress’ Tests
My report on the Bank of England’s latest (November 2018) stress tests was published by the Adam Smith Institute on August 3rd. The purpose of the stress tests…
Read MoreMises on 100-Percent Reserve Banking
By Edward W. Fuller Economists debate whether Ludwig von Mises advocated free banking or 100 percent reserve banking. This debate is significant. Mises states, “the…
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Debasing the Baseless – Modern Monetary Theory
Populist politicians are turning to Modern Monetary Theory Fiscal stimulus has not led to significant inflation during the last decade MMT is too…
Read MoreInterview with Professor Joachim Starbatty MEP
Professor Joachim Starbatty is a member of the European Parliament. He kindly hosted our event “The Lessons of Economic History” earlier this year. Here…
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A world of debt – where are the risks?
Private debt has been the main source of rising debt to GDP ratios since 2008 Advanced economies have led the trend Emerging market…
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