Mikko Arevuo
5 March 2015

Conventional economics has it that businesses adjust their investment spending decisions according to changes in the cost of capital.  At low interest rates, more investment projects are...
Frank Hollenbeck
4 March 2015
1 comment

Greece shed its shackles only to realize that it was still in prison. Nothing has been resolved, and the can has been kicked down the road for another four months. Europe will continue the illusion...
Philip Booth
15 January 2015

With the news that inflation has fallen to 0.5 per cent there are “fears” that we might be about to slide into deflation. It is worth noting, firstly, that it is CPI inflation that has...
Stephen Michael MacLean
27 November 2014

Following the Democratic rout in the American mid-term elections, defenders of limited government will wonder whether a Republican-led Congress will govern according to constitutional principles or...
John Burton
2 September 2014

One of the most important controversies generated by the Scottish independence debate relates to the continuation (or not) of the present sterling zone between Scotland and the rest of the UK (rUK),...
Kevin Dowd
18 June 2014

I would like to thank the IEA for today publishing my monograph, New Private Monies, which examines three contemporary cases of private monetary systems. The first is the Liberty Dollar, a private...
Kevin Dowd
6 May 2014

In a recent Financial Times article Martin Wolf announced his conversion to the view that private banks should be stripped of their ability to create money. The proposal to end private money is an...
Lawrence H. White
13 February 2014

On 18 September 2014, Scotland will hold a voter referendum on whether it should become independent. If voters say ‘yes’, what money should the newly independent Scotland adopt?...
G. R. Steele
3 February 2014

The relative merits of directing monetary policy by following set rules or by the use of discretion has engaged economists since first discussed by Henry Simons in a seminal paper published...
Ian Senior
15 January 2014

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...
David Howden
25 October 2013

  Five years ago some comic genius came up with the joke that defined the approaches to resolving the problems of two crisis stricken countries: ‘What’s the difference between...
Stephen Michael MacLean
16 September 2013

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 -...
Philip Booth
16 August 2013

On becoming governor of the Bank of England, Mark Carney made some statements about women which were somewhat intriguing. He argued that: ‘It is anomalous, it’s striking. What we have to...
G. R. Steele and John Whittaker
13 August 2013
1 comment

Although macroeconomic policy has become largely confined to monetary-policy initiatives - that is, meddling with interest rates - the Keynesian propensity of central bankers and finance ministers...
Philip Booth
8 August 2013

Yesterday morning, in response to Mark Carney’s decision to issue forward guidance in relation to the Bank of England’s monetary policy decisions, I released a quotation to the press:...
Anthony J. Evans
7 August 2013

I don’t view today’s announcement by the Bank of England as being a major change in monetary policy. The inflation target of 2% remains in place and the tools with which the Monetary...
Pete Comley
15 July 2013

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...
David S. D'Amato
31 May 2013

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

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...