TTIP – when free trade goes wrong?
In 1942, Wilhelm Röpke’s International Economic Disintegration was published. An international order of liberal free trade collapsed through nationalism, protectionism and monetary destruction. Many…
Read MoreInterventionism
Auflockerung avoided
Cyprus may or may not prove to be a ‘watershed’ for the European crisis but what we can say for now (tempting fate outrageously…
Read MoreEasy, isn’t it?
With the halls no longer decked with boughs of holly and the wassailers at last stuffed full of figgy pudding, we have all reluctantly…
Read MoreAmerica: A threat to liberty?
“Politics, as hopeful men practice it in the world, consists mainly of the delusion that a change in form is a change in substance,”…
Read MoreThe greatest trick
“I believe in an America where millions of Americans believe in an America that’s the America millions of Americans believe in. That’s the America…
Read MoreThe triumph of politics
On August 15, 1971, President Richard Nixon declared that the United States would no longer honour its promise to exchange US dollars held by…
Read MoreHappy interventionists: the economist’s attack on your property
Last week, DIW – the Deutsches Institut für Wirtschaftsforschung (German Institute for Economic Research) – an influential think tank, proposed an ingenious solution to…
Read MoreBy abandoning the gold standard we embraced monetary central planning, chaos
With this essay I will try to reconcile two apparently conflicting perceptions of the key problems with our present monetary system. I will start…
Read More
Did Bernanke prevent another Great Depression?
In a lecture given at the George Washington University on March 27, 2012 the Chairman of the Fed said that the US central bank’s…
Read MoreSavings, investment, and the Keynesian preference
Neo-classical economists underestimate the importance of the link between savings and investment. The two should be regarded as linked together: you need savings to…
Read More