Social destruction by the abuse of money
byIn Britain, the top 1% of earners pay over a quarter of all income tax collected, and while super-rich British residents perhaps don’t have…
Economics
Improve non-consultant doctors’ pay by liberalising their private sector capabilities
byGiven the ongoing outrage about pay for NHS staff (especially for junior doctors, nurses etc.), one way in which to tackle this could be…
Money multiplier is really about credit out of “thin air”
byAccording to traditional economics textbooks, the current monetary system amplifies the initial monetary injections of money. The popular story goes as follows: if the…
Benn Steil’s Project Syndicate op-ed, “The Marshall Plan and ‘America First'”
bySix months into Donald Trump’s presidency, the White House website still proudly proclaims his administration’s new “America First Foreign Policy.” No longer will the…
Follow the money
bySince 2009, equities and other financial assets have climbed a wall of worry. Initially, it was recovery from the threat of a complete financial…
Are Bank Capital Requirements Really Ten Times Higher Than Before The Crisis?
byA major theme in Bank of England speeches over the last three years has been the ‘Ten Times’ story: bank capital requirements are now…
Has Bitcoin come of age?
byBitcoin (BTC) has tripled and then halved since late March Even at BTCUSD 2000 total issuance amounts to $33bln Historic volatility is high (80%)…
Benn Steil: How Fairly Valued is China’s Currency? Big Mac and Mini Mac Square Off Again.
byThe “law of one price” holds that identical goods should trade for the same price in an efficient market. But how well does…
Government Monopoly Money vs. Personal Choice in Currency
byFor more than two hundred years, practically all of even the most free market advocates have assumed that money and banking were different from…
Economic Ideas: Jean-Baptiste Say and the “Law of Markets”
byWhatever economic freedom we enjoy in the world today is due, to a great extent, to the ideas and efforts of the classical liberals…