The Magicians At The Bank Of England (with close support from No 10 & 11 Downing Street)

Who made this very sound statement two years ago in relation to QE I? The last resort of desperate governments when all other policies have failed Answer: George Osborne, our Chancellor. Sometime soon it will have to stop because in the end printing money leads to inflation....

Jack Farchy In The FT On $5000 Gold

FT – Bullion bulls talk of $5000 gold Historically, gold and silver were the money of choice, freely chosen by the people as the most marketable commodities. The value of your labour was measured in these precious metals. Wicked Kings through the ages debased the people’...

Hayek vs Keynes @ Buttonwood

Readers, if you saw the first EconStories.tv video of Hayek v Keynes and the explanation of their key contributions in the rap format, then watch this Part Two, you will love it. If you haven’t seen the original, I urge you to watch Part One. Enjoy!  

Video of Huerta de Soto’s Hayek Lecture

We have previously posted the text of Huerta de Soto’s speech, and an audio recording via Cobden Centre Radio. It was a fantastic event, and I’m pleased that we can now provide a video recording as well: LSE Hayek Lecture 2010: Professor Jesús Huerta de Soto from Cobd...

Could The World Go Back To The Gold Standard?

Martin Wolf asks “Could the world go back to the gold standard?” During any period of monetary disorder — the 1970s, for example, or today — a host of people calls for a return to the gold standard. This is not the only free-market response to the current system of fiat (or...

Banking: From Bagehot to Basel, and Back Again

As reported yesterday on Mises.org, there were some very encouraging statements in Mervyn King’s Monday speech to the Buttonwood Gathering in New York. King noted that “Of all the many ways of organising banking, the worst is the one we have today”. After considering various...

Halligan: QE Now Seen As An Aggressive Depreciation Tool

Another superb article from Liam Halligan: While the US has doubled its monetary base over the last 18 months, the UK’s base money supply has tripled. That’s right – UK base money is now three times bigger as a percentage of GDP than it was at the start of 2009. Given all that...

Why Do We Have to Argue the Case for Free Trade?

I gave the following presentation at a fringe event during the Conservative conference in Birmingham. Human Co-operation and the Universal Division of Labour Adam Smith showed us, and it is not disputed internally within the nation, that specialisation in tasks has led to the...

Limited Purpose Banking?

In April, I reviewed Jimmy Stewart is Dead by Laurence Kotlikoff. Yesterday, Jerry O’Driscoll posted a review of his own: Chapter 1 of the book is titled “It’s a Horrible Mess,” and in it Laurence Kotlikoff, a professor of economics at Boston University, reminds the reader of the...

Is there room for Austrian Ideas at the top table?

In December 2008, Dr Anthony Evans and I wrote an article for the IEA asking, in these testing times for central banks, whether there is room for Austrian Ideas at the top table. Historically there have been roughly three main ideas that explain macroeconomic fluctuations, and...