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Philip Booth
17 October 2012
5 comments

  At a meeting in the House of Commons yesterday, I was asked to describe the characteristics which should be possessed by the next Governor of the Bank of England. These were my thoughts...
Kevin Dowd
28 September 2012
comments

  I am very grateful to the IEA for making Private Money available as a free download on the web. On looking back over it – it was written and published in 1988 - I am struck by how...
G. R. Steele
18 September 2012
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  President Obama’s 2009 stimulus has been a disappointment: the Keynesian response is that it failed because it was not big enough. So, now we have Ben Bernanke’s rescue act:...
Laurence Copeland
3 August 2012
2 comments

  Reading the final report of the Kay Review of Equity Markets is an unsettling experience, starting as it does in the tone of a Victorian blast from the pulpit: "Short-termism [...
Jose-Maria Garcia-Casado
12 July 2012
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Occasionally we hear the voices of a minority with a penchant for the Austrian School of thought, questioning the current monetary system and calling for a return to the gold standard or a similar...
G. R. Steele
1 June 2012
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Martin Wolf recently committed the Financial Times to a $71.88 lunch-time interview with Paul Krugman. Whatever the quality of the meal, the interview was poor value. Three questions were covered:...
Philip Booth
30 April 2012
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A brief pamphlet has recently been published by Civitas, written by John Mills – ‘A Price that Matters’. This pamphlet makes the case that the UK should have an explicit...
Andrew Lilico
19 April 2012
1 comment

Does cutting the Bank Rate (the Bank of England policy rate) cut the real-terms cost of capital for investors? Most discussions take it for granted that it does do this. But corporate finance...
Tom Papworth
4 October 2011
1 comment

The Chancellor of the Exchequer has announced his latest strategy for rescuing the UK economy, in the form of ‘credit easing’. Credit easing is the equally evil twin of...
Steven Kates
4 April 2011
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According to Wicksell, there are two interest rates, one visible and the other almost totally invisible. The visible rate is the number found in every central bank publication. It is prominently...
Philip Booth
30 March 2011
2 comments

A few ears pricked up on budget day when George Osborne announced a surprising and potentially expensive plan to rebuild Britain’s foreign currency reserves. There are two...
G. R. Steele
14 March 2011
2 comments

Inflation is the process whereby ‘things’ – balloons, tyres, opinions, etc. – wbecome enlarged. Deflation is the reverse process. In economics, inflation generally refers to...
Anthony J. Evans
11 March 2011
4 comments

In this month's Standpoint magazine Tim Congdon has written a rich and insightful contribution to the debate about quantitative easing. He challenges Gordon Brown's portrayal of his own...
G. R. Steele
21 February 2011
1 comment

While the full complexity of an economic cycle can never be gauged, economists point to many contributory factors, each with its tinge of plausibility; but every recession, recovery, over-extension...
G. R. Steele
21 January 2011
16 comments

A member of the Bank of England’s Monetary Policy Committee believes that inflation has been driven ‘by higher food and energy costs’; and the head of the European Central Bank...
Philip Booth
18 January 2011
comments

Back in the 1960s, Ronald Reagan famously said there were no easy answers to the U.S.'s then growing problems, but that there were simple answers. In a way, today's Europe may resemble...
John Whittaker
24 November 2010
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There does not seem to have been much confidence, even at the Fed, that its latest round of quantitative easing would do much good. Rather, the Fed’s motivation comes across as a desire to be...
Philip Booth
18 November 2010
3 comments

David Blanchflower has once again suggested that we would not need to worry about austerity if only we allowed price inflation of 5% for a few years. Let us ignore the moral issues of whether...
Philip Booth
1 October 2010
5 comments

MPC member Adam Posen said in a speech in Hull that we must loosen monetary policy or we are in danger of having a very long period of slow growth as has been experienced in Japan. He also...
Charles K. Rowley
3 August 2010
3 comments

Mervyn King was appointed Deputy Governor of the Bank of England in 1997 and became an ex-officio member of the Bank’s interest-rate setting Monetary Policy Committee when the...

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