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Lawrence H. White
13 February 2014
8 comments

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
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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
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...
David Howden
25 October 2013
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  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
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 -...
Philip Booth
16 August 2013
12 comments

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
3 comments

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
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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
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...
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...