George Selgin has a new paper out titled, Central Banks as Sources of Financial Instability. An exerpt:
The present financial crisis has set in bold relief the Jekyll and Hyde nature of contemporary central banks. It has made apparent both our utter dependence on such banks as instruments for assuring the continuous flow of credit in [...]
If you want to know why the UK economy is in such bad shape, reading this dribble from David G. Blanchflower, former member of the MPC, should be enlightening. He is quite concerned that governments will get a clue and cut spending. Since he reveres Keynes that is seen as tantamount to economic suicide:
March 10 [...]
From Cato, Six reasons to downsize the federal government. Here’s the first three:
1. Additional federal spending transfers resources from the more productive private sector to the less productive public sector of the economy. The bulk of federal spending goes toward subsidies and benefit payments, which generally do not enhance economic productivity. With lower productivity, average [...]
Mark Steyn is one of my favorite writers and this article is one of his best:
While President Obama was making his latest pitch for a brand new, even more unsustainable entitlement at the health care “summit,” thousands of Greeks took to the streets to riot. An enterprising cable network might have shown the two scenes [...]
