Europe’s Unfinished Currency – by Thomas Mayer

In his “Europe’s Unfinished Currency”, Thomas Mayer gives us a highly readable account of the political origins of the European Union and its currency and its current weaknesses and promise. 

 

The Monetary Conservative:

Inflation is the work of the devil, because it respects appearances without destroying anything but the realities.  Jacques Rueff

 

Birth of a Market: The US Treasury Securities Market

Kenneth Garbade, a senior vice president at the Federal Reserve Bank of New York, has written extensively on the development of the market for US Treasury securities, including at least nine single- or co-authored articles (most of which appear in Economic Policy Review).   

 

Reading Ireland

The Irish boom was real, up to a point, but the Irish crash is real too. Like her boom, Ireland’s subsequent problems have spawned a substantial literature – here we provide a guide to some of the more interesting.

The Euro – The Politics of the New Global Currency, by David Marsh

Bundesbank President Tietmeyer once said to his British counterpart, “You have the House of Lords, the Queen and your established traditions – we have...

Treasury’s War:

Have you ever wondered how the United States and other countries actually conduct “financial warfare”?   

 

Getting it Wrong – by William Barnett

In Getting it Wrong1 William Barnett, an aggregation and index number theorist, makes a few important points about monetary policy in the United States, along with a few questionable claims for how to fix it, and some fairly bazaar speculations about why his proposals have received so little traction. 

 

 

From Georgetown to George Town – by Bill Walker

William Stuart Walker was one of the pivotal figures in the creation of Cayman as an offshore financial center and its subsequent development. Among...

Dollars, Euros, and Debt:

Vito Tanzi has again given us a solid economic explanation of what went wrong and why, and what can be done about it. Governments have grown too large, have spent way too much money, and have tried to get out of the mess through the inappropriate use of monetary policy rather than by drastically cutting spending. 

 

The Law Market

In England, a motorcyclist was recently sentenced to six months in jail for riding at speeds of up to 122 mph on a half-mile...

How the government monopoly on money imperils the global economy

Detlev Schlichter says that “Today’s mainstream view on money is logically incoherent because it is in fundamental conflict with essential aspects of money and money’s role in a market economy.” 

 

Inside the Nixon Administration:

 

 On 15 August, 1971, President Richard Nixon unilaterally ended the international system of rules that had governed the financing of international trade and investment since the end of World War II.

David Stockman’s The Great Deformation: The Corruption of Capitalism in America

For six years I’ve told audiences (and even more than a few social acquaintances who would listen) that the 2008-09 Global Financial Crisis was not “The Big One.” In time, people will look back on that episode as relatively minor and fairly short-lived compared to the one we are building toward. Don’t believe me? 

 

Money, Markets & Sovereignty

A central theme of this book is that such a dramatic expansion of trade could not have occurred without an international currency with which to pay for it. The gold standard – national currencies convertible into gold at fixed prices – provided such a world currency and other virtues as well.

Hidden in plain sight:

What really caused the world’s greatest financial crisis? The prevailing narrative, as articulated by President Obama and his allies, was that the crisis was caused by insufficient government regulation.   

 

Trade Policy Disaster: Lessons from

At the beginning of the Great Depression, world trade dropped by an “astounding 65 per cent in gold-dollar terms”.  

 

“When Money Dies: The Nightmare of Deficit Spending, Devaluation and

“The Treaty includes no provisions for the economic rehabilitation of Europe, – nothing to make the defeated Central Empire into good neighbours, nothing to stabilise the new States of Europe …  

 

Just taxes: The politics of taxation in Britain, 1914-1979 (Cambridge University Press 2002) by...

Cambridge University Economic History Professor Martin Daunton has pulled off the astounding feat of writing not just one, but two books about the history of taxation that are not only thoroughly researched and thoughtful but are written in such a lively style and illustrated with so many ...

“The Shifts and the Shocks” by Martin Wolf

Book review from Warren Coats, CFR Editorial Board member, ex IMF and specialist adviser to central banks of "The Shifts and the Shocks" from Martin Wolf, generally considered one of the most influential writers in his field.

 

“Hedge Fund Governance – Evaluating oversight,

At the end of the first chapter I was frustrated, as I was looking for a theoretical analysis and conclusion regarding corporate governance in hedge funds.