The 1.5% interest rate cut came as a bit of a surprise to most people. However, we are in new … Continue reading “The Bank of England shouldn’t try to stave off recession”

According to official figures, almost two million people are now unemployed in the UK. That number is rising rapidly as … Continue reading “Welfare reform needed to prevent long-term dependency”

Alistair Darling’s proposed spending spree on bringing forward major capital projects suggests the government is prepared to sacrifice the economy’s … Continue reading “A Keynesian spending spree won’t lead the economy out of recession”

Sir – Marx’s theory of the crises of capitalism is little more than a melodramatic description of the business cycle … Continue reading “Marx was wrong in every important respect”

Today, the government of Argentina will announce the annulment of the country’s private pension system introduced in 1994. The savings … Continue reading “The government of Argentina expropriates workers’ pension funds”

The present financial crisis illustrates clearly the fundamental importance of institutional structure to the satisfactory operation of a market economy. … Continue reading “The financial crisis and the economics of institutions”

Several bloggers, including Guido Fawkes, have rightly emphasised the relevance of Ludwig von Mises’ work to the current financial crisis. The … Continue reading “Monetary policy a cause of depressions”

In an interview with Spiegel Online, 2006 Nobel laureate Muhammad Yunus states that the current financial crisis is proof that … Continue reading “Muhammad Yunus joins the “crisis of capitalism” choir”

On 9th October, Anatole Kaletsky, Associate Editor of The Times, wrote “Banking crises have never been resolved purely by market … Continue reading “The press has managed to ignore the facts, the history and the economics of banking”