G. R. Steele
14 March 2011

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

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

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

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

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

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

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

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...
Andre Johnston Phijuntjitr
17 June 2010

Over the past year there have been murmurings of expansive new proposals for a global reserve currency to replace the long suffering, yet still hegemonic, dollar. One such proposal has been the...
Andre Johnston Phijuntjitr
9 June 2010

A trillion here, 500 billion there - it seems no amount is too much when the authorities want to fix a perforated economy. Keeping an economy on life support through extensive...
Toby Baxendale
29 April 2010

Language was created spontaneously and needed no act of creation or sanction by the state – it is owned by each and every one of us. Money was also created this way, but today we have...
Holger Zemanek
1 April 2010

“Borrow as much as you like – the ECB will bail you out” – that was arguably the implicit message of European Central Bank president Jean-Claude Trichet last week...
Steven Kates
23 February 2010
1 comment

The world is filled with irony and idiocies aplenty. For how many years was inflation targeting the very essence of economic policy when the threat of inflation was hardly anywhere to be seen. How...
Tom Papworth
2 December 2009

The government’s economic recovery policy consisted of two tracks: one, a vastly expensive “fiscal stimulus“, involved ramping up spending at a time when tax revenues were falling...
Philipp Bagus and David Howden
30 November 2009

While quantitative easing has received much press, qualitative easing has been neglected. Qualitative easing consists of policies that deteriorate the average quality of the assets that a...
David B. Smith
5 November 2009

There seems to be near-lunatic policy inconsistency between the employment of the controversial and potentially dangerous policy of quantitative easing to boost broad money and credit, and the...
Philip Booth
25 September 2009

If the next government, of whatever colour, insists on not taking the bold step of getting the government out of the production and management of the money supply – and political realism...
Charles K. Rowley
7 September 2009

In our monograph, Economic Contractions in the United States: A Failure of Government, Nathanael Smith and I evaluate and categorically reject the hypothesis that a failure of laissez-faire...
Tom Papworth
6 August 2009

The Bank of England’s decision to pump an additional £50 billion into the economy, over and above the £125 billion earlier this year, has been accompanied by the sound of...