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Stephen Michael MacLean
27 February 2014
1 comment

The allure of minimum wage laws arises once more in both the UK and the US. While Chancellor Osborne has suggested raising the national minimum wage to £7.00, President Obama’s State of...
Ian Senior
15 January 2014
8 comments

Money in the form of coin, banknotes or numbers on a computer screen, represents a claim on goods and services. It is a useful intermediary that enables trade and avoids barter. For many years the...
Stephen Michael MacLean
16 September 2013
3 comments

Readers of the Telegraph blogs may have been intrigued by the title of a recent essay by Jeremy Warner, ‘Currency debasement never works — just ask Henry VIII’, only to discover -...
Pete Comley
15 July 2013
2 comments

If you look at UK inflation over the last few centuries, you are immediately struck by the change that occurred after 1945. Until then, inflation took place mainly during major wars and then periods...
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...
G. R. Steele
18 September 2012
comments

  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:...
Juan Ramón Rallo
13 August 2012
2 comments

Madrid's persistent pressure for the European Central Bank (ECB) to monetise part of its debt is necessarily a self-defeating strategy. Once the Spanish government recognises that it is unable...
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...
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...
John Whittaker
24 November 2010
comments

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
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...
Toby Baxendale
29 April 2010
23 comments

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...
Tom Papworth
2 December 2009
26 comments

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
2 comments

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
6 comments

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...
Tom Papworth
6 August 2009
11 comments

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...
Richard Wellings
14 July 2009
comments

●  John Blundell on the need to guard think tanks against undue influence   ●  Roger Bate explains why Britain is sailing towards the icebergs    ●  Tim...
Richard Wellings
6 June 2009
comments

● Kevin Dowd on moral hazard and the financial crisis (pdf) ● David Friedman sets out the problems of cap and trade ● Oliver Hartwich explains why big government is not so smart ● Mark Koyama...
Philip Booth
21 May 2009
2 comments

A couple of days ago the bogus Consumer Price Index registered a dip to an annual rise of 2.3%. The RPI fell further into negative territory. Perhaps the best measure of inflation, RPIX (the...
D. R. Myddelton
20 April 2009
2 comments

The British government, in common with many other governments, has embarked on a policy of “quantitative easing” [QE], also known as “printing money”. Can we trust them to...