Income Inequality Matters

by Roger Koppl Income inequality matters. Let me say that again so you know I meant it: Income inequality matters. This statement may be surprising coming from a self-described “Austrian” economist and a “liberal” in the good old-fashioned pro-market sense. It shouldn’t be. It should be one of our issues. The surprise should be that we … Continue reading Income Inequality Matters

Government Revenues from Low-Interest Rate Policies

by Andreas Hoffmann and Holger Zemanek* Over the last two years Carmen Reinhart and Belen Sbrancia have published a series of papers on financial repression and its historical role in financing government debt. They show that throughout the Bretton Woods period governments in many advanced economies repressed financial markets to liquidate the high levels of debt that … Continue reading Government Revenues from Low-Interest Rate Policies

Student Debt Bubble Side Effect

by Chidem Kurdas Gore Vidal died a few days ago. He was a remarkably erudite author, as any reader of his marvelous historical novels – Burr and Lincoln are just a sample – notices.  He never went to college.  Born in 1925, he joined the army at age 17 and published his first novel before age … Continue reading Student Debt Bubble Side Effect

Hundred Years of Bailouts

by Chidem Kurdas After all that’s been said and written about financial crises, it is rare to come across useful insights.  Financing Failure. A Century of Bailouts by Vern McKinley documents a major continuity with past policy making. He shows that policies intended to prop up failing companies are nothing new—the same basic pattern has recurred time … Continue reading Hundred Years of Bailouts