by Andreas Hoffmann (University of Leipzig) In a recent piece Jesus Huerta de Soto (2012) argues that the euro is a proxy for the gold standard. He draws several analogies between the euro and the classical gold standard (1880-1912). Like when "going on gold" European governments gave up monetary sovereignty by introducing the euro. Like … Continue reading The Euro: a Step Toward the Gold Standard?
by Chidem Kurdas The Greek economy continues to shrink. With the wider European debt crisis and slump hampering Greek recovery, the recession may persist through 2013. Amid the grim news, however, there is a small sign that austerity measures are starting to work. This evidence is not widely known or reported. I heard about it … Continue reading Emerging Hope in Greece
by Bill Butos Federal Reserve Chairman Ben Bernanke is pushing for another significant round of “quantitative easing” – now dubbed “QE2” by Fed observers – on the grounds that the economy’s response to simulative macro policies since 2008 has been anemic. What the economy needs, this thinking goes, is some inflation. While much of the … Continue reading Up, Up and Away (Again)
KEYNES HAYEK 1932 Cambridge vs.LSE by Mario Rizzo My friend economist Richard Ebeling has discovered two extremely important letters. (Click the link above.) In 1932 before John Maynard Keynes’s General Theory was written, these letters appeared in The Times of London regarding the appropriate economic policies for Britain to follow during the slump. There are … Continue reading Keynes versus Hayek: Past is Prologue