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Government Guarantees and the Valuation of American Banks
Expectations of government bailouts drove the increase and decline of American banks’ market value to book value, according to a new NBER working paper.
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Some Confusions of Language in Economic Thought
Fifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought. Hayek argued that the words we use and the meanings we give to them greatly influence how we think about the political system and the wider social order in which we live. This is no less so, I would suggest, in the language and the meanings of words used in economics.
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What’s Up With the $1 Coin?
As far as monetary reforms go, the $1 coin’s removal may not be very flashy. But it seems like a no-brainer.
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Merchant Opposition to Protectionism Grows
The cause of free trade is fortunate this time to have the support of the merchant class.
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