Cobden Centre readers may find it heartening that Ambrose Evans-Pritchard is now showing an interest in hard money: On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save – Spain and Italy – though RBS thinks a €3.5 trillion rescue fund would ensure survival of […]
Jesse Norman’s book on the Big Society, which I reviewed recently, caused me to reflect once again on Homo Oeconomicus, that totally un-human being, that rationally calculating bundle of circuits, which mechanically responds to events to maximise its utility. We know utility is a thoroughly personal, subjective measure that is taken by the economics profession to be […]
Sean Corrigan’s latest appearance on CNBC is well worth watching (3m 42s). Mon 27 Jun 11 | 02:00 AM ET The Chinese economy reflects the ‘Vampire Economy’ of Germany in the 1930s where the state controlled prices at the expense of profit, Sean Corrigan, chief investment strategist at Diapason Commodities Management told CNBC Monday. He added Chinese […]
I was kindly sent a copy of Lord Lawson’s book “An Appeal to Reason: A Cool Look at Global Warming”. When I was 16, I was given a small pamphlet by the Heritage Foundation called “Our Moral Heritage” by F A Hayek which was lecture 24 of the Heritage Lectures 1983 with a splendid introduction […]
Grant is the owner of Grant’s Interest Rate Observer. He is one of the greatest financial commentators and you have probably never heard of him. Our friends at the Mises Interview interviewed him in 1996, http://mises.org/journals/aen/aen16_4_1.asp . His book the Trouble with Prosperity predicted the Dot Com crash, it is a very Austrian orientated work. His […]
An excellent article from B. Chandrasekaran for the Wall Street Journal: The plight of the Dalits, those whom the Hindu caste system considers outcastes and hence Untouchables, was a rallying cry of Hindu reformers and Indian leftists for half a century. But today these victims of the caste system are finding that free markets and development bring advancement […]
The Telegraph reports: Banks bought 91pc of the £39.8bn of net issuance of new gilts with purchases totalling £36.1bn, compared to the £11.4bn of UK debt bought in the preceding six months. The scale of the buying of UK Government debt was revealed in figures published on Wednesday by the Bank of England, which show the […]
The latest Rolling Stone article from ‘Vampire Squid‘ author Matt Taibbi: They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about […]
If you are interested in monetary theory and what the Austrian School has to say about this debate, the paper that Anthony linked to last week is well worth reading. It addresses some common misunderstandings about Monetary Equilibrium Theory (MET). This theory is controversial and is much critiqued in Austrian circles. It is but one branch of […]
The Telegraph reports The reason why many reach for the rose-tinted spectacles when recalling Bretton Woods is because it marked a rare moment of international co-operation. It also played a role in ushering in three decades of heady economic growth in the US and a resurgent Germany. Though Keynes was unhappy with parts of the agreement, […]
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