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”.  

 

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 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...

This Time is Different:

Have you ever encountered a book in your field of inquiry that upon reading, you knew the book should be put on that special shelf reserved for favourites? That the book was so fundamentally good and strong that you would be reading it again and again and referring others to do the same? 

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 ...

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. 

 

 

Ships of Oak, Guns of Iron:

In 1814, the US already had the highest per capita income and one of the largest territories of any country, a mid-sized population of eight million – significant for countries of the time; and it had taken on Great Britain, the military and economic superpower of the day, and fought it to a stalemate on the land and sea. 

 

Charles Calomiris and Stephen H. Haber Fragile By Design:

The United States has had 14 banking crises over the past 180 years! Canada, which shares not only a 2,000-miles border with the United States but also a common culture and language, had only two brief and mild bank illiquidity crises during the same period 

 

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 Monetary Conservative:

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

 

“Government versus Markets: The Changing Economic Role of the State”

by Vito Tanzi, Cambridge University PressRead our article in the Cayman Financial Review Magazine, eversion If one has an interest in political economy, yet only...

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...

Good fences? Cross-border bankruptcy law

“Annual income twenty pounds, annual expenditure nineteen pounds, nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds, nought and six, result misery.”

 

‘Fault Lines’ by Raghuram G. Rajan

Read our article in the Cayman Financial Review Magazine, eversion Much has already been written about the causes and cures of the financial crisis of...

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 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...

Capital Ideas: The IMF and the Rise of Financial Liberalisation

Jeffrey M. Chwieroth(Princeton University Press 2010) ISBN 978-0-691-14232-6, 311 pp. One of the most important economic changes in the post-World War II period was...

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.” 

 

Treasury’s War:

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

 

The Money Trap:

Robert Pringle’s The Money Trap should be very high on the list of books for anyone wanting to understand the weaknesses and flaws in the existing approaches to national monetary and banking policies and the international arrangements that link them.