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David S. D'Amato
31 May 2013
2 comments

In the wake of the financial crisis, there are growing movements in the USA and the UK to abolish the countries’ central banks, the Federal Reserve System and the Bank of England. And while...
Patrick Minford
30 May 2013
3 comments

Mark Carney will arrive as the new governor of the Bank of England at a time when its policy is in disarray, but also when all the levers are in the Bank’s hands. He has a good chance...
Steve Davies
29 April 2013
1 comment

In an earlier blog post, Philip Booth discussed the likely scenarios for Scottish monetary policy in the event of Scottish independence and the difficulties, both political and economic, associated...
Philip Booth
23 April 2013
4 comments

Today the Treasury has released a report on the potential currency arrangements for an independent Scotland. Here, I will leave aside the issues of who ‘owns’ the Bank of England and...
G. R. Steele
4 March 2013
2 comments

Keynesian economists have an enduring disposition to spend their way out of trouble. This is so even when overspending has caused the trouble. Gone are the days when expenditure and taxation were...
Steven Kates
28 February 2013
10 comments

Has Keynesian economics reached the final frontier of idiocy? I may live on the other side of the world, but this article in The Telegraph found its way to me. It is a story that makes me think...
Philip Booth
23 January 2013
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  An interesting comment was made recently by Andrew Lilico at a meeting of the IEA’s Shadow Monetary Policy Committee. He suggested that the Bank of England has given up inflation...
Emmanuel Martin
19 October 2012
1 comment

  The Federal Reserve’s new round of Quantitative Easing (QE3) consists of purchasing $40 billion worth of mortgage-backed securities every month and injecting corresponding...
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
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  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...