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...

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...