Public expectations of inflation to shift and the demand for cash balances to fall
Propinquity to power is perceived to matter, especially in a time of crisis.
Poverty is not the result of rapacious financiers exploiting the poor. It has much more to do with the lack of financial institutions, with the absence of banks, not their presence. Only when borrower...
Peculation.
Our species should really be known as Homo dictyous (‘network man’) because – to quote the sociologists Nicholas Christakis and James Fowler – ‘our brains seem to have been built for social networks’.
Now Rothschild was providing Europe with a new social elite by raising up the system of government bonds to supreme power . . . [and] endowing money with the former privileges of land. To be sure, h...
More likely to have creative ideas (or less likely to suffer from group-think).
Man who had exchanged his $1,000 of savings for gold in 1970, while the gold window was still ajar, would have received just over 26.6 ounces of the precious metal. At the time of writing, with gold t...
Los regímenes constitucionales basados en el imperio de la ley son a su vez más susceptibles de experimentar revoluciones financieras que alienten tanto la inversión extranjera como la formación inter...
It’s not owning property that gives you security; it just gives your creditors security. Real security comes from having a steady income,
It is not ‘Eurocentrism’ or (anti-)‘Orientalism’ to say that the rise of Western civilization is the single most important historical phenomenon of the second half of the second millennium after Chris...
Investors tended to infer future changes in fiscal and monetary policy from political events, which were regularly reported in private correspondence, in newspapers and by telegraph agencies. Among th...
In response to discrimination and persecution in the Holy Roman Empire. They had moved further east into the Grand Duchy of Lithuania in the fifteenth and sixteenth centuries and, despite the violence...
He later made the tobacco companies pay: over $200 billion to Mississippi and forty-five other states as compensation for Medicaid costs arising from tobacco-related illnesses. The case (immortalized...
Hapless
Government had degenerated into what has been called an ‘administrative’ or ‘managerial’ state, hierarchical and bureaucratic in its mode of operation, dedicated to generating ever more complicated re...
Do you think that I believe that you will protect us? I said, yes. He said, I no longer believe that you will protect us. Your actions over recent years have made clear that to you detente is more imp...
Crisis seemed to vindicate the Soviet model. For, if Marxism-Leninism stood for anything, it was the prediction that capitalism would collapse under the weight of its own contradictions. Now it seemed...
Complaints from France that Washington was exploiting its reserve currency status in order to collect seigniorage from America’s foreign creditors by printing dollars, much as medieval monarchs had ex...
Between economic freedom and government regulation? Chapter 2 will address these issues. The specific question I ask is how far very complex regulation has become the disease of which it purports to b...