Economic Theory

The US economy suffers from a growing culture of indebtedness


In the Media

Philip Booth writes for Financial World

In the Media

Prof Philip Booth appears on BBC 2's GMT programme

Charles K. Rowley writes for the Daily Telegraph
Adam Smith would be much less sanguine were he confronted by today’s financial crisis and the US government’s response, writes Charles K. Rowley for the Daily Telegraph.

The policy responses to the debt bubble demonstrate “crude political consideration rather than economic understanding”. Prosperity and full employment in the US will only be restored by a return to laissez-faire capitalism.

Read the full article here.

Charles K Rowley is Duncan Black Professor of Economics at George Mason University and general director of The Locke Institute. He is the author (with Nathanael Smith) of Economic Contractions in the United States: A Failure of Government, published by the IEA and the Locke Institute