A new golden age
by“The designers of the good ship euro wanted to create the greatest liner of the age. But as everybody now knows, it was fit…
November, 2011
The bubble in government bonds is finally bursting
by“The government can always pay.” This is a statement that has no basis in fact. Any rational analysis will quickly expose it to be…
The myth of contagion is catching
byTalks of contagion risk, despite having a brief respite earlier this year, are back stronger than ever. With Italy dominating the news, the new…
20 years since India’s economic reforms
byIndia in the last 20 years has started to reverse the Keynesian-inspired planning that clouded its growth since independence. A large part of this…
The two-edged stimulus Britain can’t afford
byBritain’s economy is on the brink of recession after barely growing in the last year and it faces acute risks from the debt crisis…
The Four Horsemen
byJan Skoyles recently brought our attention to an upcoming documentary called The Four Horsemen, which promises that 23 people will “break their silence and…
How optimal is the eurozone: Part II
byI recently wrote about the inconsistency of the economic arguments for the formation of the Eurozone. The conclusion that the euro was oversold at…
City AM: Elastic money is folly
byFrom an interview with City AM: I’m absolutely convinced that this system will collapse. Nobody can say when we will reach the endpoint, but…
How optimal is the eurozone: Part I
byEuropean monetary integration relies on the theory of the optimal currency area (OCA). Successful currency unions generally meet four criteria: A high degree of…
Regulating towards depression
byEngineering the Financial Crisis by Jeffrey Friedman and Wladimir Kraus, University of Pennsylvania Press, 2011 There have been many books attempting to find and…