The announcement by Phillip Hammond that there will be no Budget spending sprees is to be welcomed. When interest rates … Continue reading “Low interest rates are not an argument for more government borrowing”

The relative merits of directing monetary policy by following set rules or by the use of discretion has engaged economists … Continue reading “Monetary policy: reforming the rules”

The public at large takes a very dim view of banking. When the pre-fix ‘shadow’ is added, matters only get … Continue reading “Casting a shadow on banking”

Keynesian demand management endures with the regular adjustment of short-term interest rates and the lowering of long-term interest rates, once … Continue reading “Setting up the next Keynesian bubble and bust?”

In March 2009 an EU directive increased the value of the protection afforded by a deposit guarantee scheme (DGS) to … Continue reading “Bank deposits cannot be guaranteed across the eurozone”

Keynesian economists have an enduring disposition to spend their way out of trouble. This is so even when overspending has … Continue reading “Negative interest rates? Negative!”

A review of Keynes Hayek: The Clash That Defined Modern Economics by Nicholas Wapshott. As the Luftwaffe targeted culturally-rich cities … Continue reading “Keynes Hayek: The Clash That Defined Modern Economics”

One estimate (from the Olympic Delivery Authority) for the overall ‘Public Sector Funding Package’ for the London 2012 Olympic Games, placed it … Continue reading “London 2012: gold, but not growth”

President Obama’s 2009 stimulus has been a disappointment: the Keynesian response is that it failed because it was not big … Continue reading “Ben Bernanke’s road to inflation”