Friday, 24 February 2017

Monthly Archives October 2016

The twists and turns of the greenback

Posted by Steve H. Hanke
October 27, 2016

This article appeared in the November 2016 issue of Globe Asia. At a monetary conference in Vienna back in 2014, the distinguished Frenchman, friend, and occasional collaborator Jacques de Larosière proclaimed that the current world monetary order should be termed an “anti-system.” He has a point – an important point. Among other things, such an anti-system […]

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The end of cash?

Posted by Scott Burns
October 25, 2016

Follow the money… Why are we still using cash? Given the rapid advances we’ve enjoyed in digital payment technology thanks to debit and credit cards and apps like PayPal, Apple Pay and Venmo, many economists are puzzled that cash hasn’t already begun going the way of the dodo. But what’s even more puzzling – and […]

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The contractionary, contradictory nature of negative interest rates

Posted by Jerry Jordan
October 12, 2016

A negative interest rate imposed by a central bank on reserve balances of commercial banks is not an interest rate at all.  It is a tax.  As such, like all taxes, it transfers resources from the private sector to the government sector and has a contractionary effect on economic activity.  The European central banks and the […]

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Leonard Liggio lecture 2016: The classical liberal tradition of sound money

October 10, 2016

By Dr. Lawrence White Let me welcome you all to the capital of Latin America. And when I say capital, I mean that much of the financial wealth of Latin America is held with banks and fund managers across the street, here in Miami. And therein lies a lesson in the results of unsound money. […]

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Disappointing estimates of the natural rate

October 5, 2016

At the recent Jackson Hole meetings, John Williams, president of the Federal Reserve Bank of San Francisco, argued there has been a  “significant decline in the natural rate of interest, or r* (r-star), over the past quarter-century to historically low levels.” Regular readers of this blog might recognize the view, as I have expressed it […]

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Enhance prosperity and improve health: Slash regulations, please

Posted by Steve H. Hanke
October 3, 2016

This article appeared in Globe Asia. Productivity and economic growth continue to surprise on the downside in most countries. While there is a great deal of handwringing over the so-called productivity puzzle, little attention is given to the real elixir: freer markets and more competition. Indeed, the policy tide is moving in the opposite direction in […]

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