Nicolás Cachanosky
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What Does it Really Mean to “Peg” Money?
For economics, money seems to be the exception to the rule, the thing that the market cannot provide by itself. Therefore, it is said, the economist and the government must […]
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European Budget Pact: Right Diagnosis but Wrong Tool?
Other than Germany and France the European countries seem to be in a holding pattern following the agreements between Germany and France. These two countries seem to be driving the […]
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Rajoy’s Plan for Spain: Conviction or Necessity?
The election of Spain’s new President of Government, Mariano Rajoy, has produced quite a few expectations. His plan seems to go against the tide on some focal points regarding the […]
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China’s Hard Landing and Hayek
A few days ago, Paul Krugman defended the position that “Friedrich Hayek is not an important figure in the history of macroeconomics.” This triggered quite a few reactions (here, here, […]
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Rules versus Solidarity
A recent news item in The Washington Times describes the political situation among European countries. In the article two opposite suggestions of how to deal with the crisis can be […]
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Three Comments on the Gold Standard
The financial crisis in 2008, the uncertainty about the future of the Euro and the doubts on the efficiency of monetary policy has brought some renewed interest in the gold […]
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Gold bugs and Paper bugs
At Free Banking blog, Kurt Schuller points to Ralph Benko’s reply to Roubini’s statements that “this idea of a gold standard is pushed every other day by these gold bugs […]
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The First International Financial Crisis: Free Banking Failure or Regulatory Failure?
The Baring Crisis of 1890 is pointed out as the first modern international emerging financial crisis. The collapse of the banking system in Argentina came very close to triggering a […]
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Financial Crisis in Europe and Regime Uncertainty
In recent days, Europe has seen two governments fall: the Prime Ministers from Greece and Italy. New governments where formed. Besides these important changes, the financial markets did not calm […]
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The Lenders of Hazard
The following passage in a note at The Economist points out to the well-known problem of moral hazard with lenders of last resort. But the moral hazard problem affects more […]