Joakim Book holds a masters degree from the University of Oxford and has been a visiting scholar at the American Institute for Economic Research in 2018 and 2019.
Nothing in Rothbard’s later view manages to cast doubt on his earlier view and White’s thesis, much less refute them.
Bagehot would certainly not qualify as very libertarian — even though his contemporary raging in favor of free trade, unregulated banking, and minimum government might suggest so.
For a child of a banker, John Lanchester manages to get a lot of banking backwards.
Modern banking is a wonderful technology. Understanding how regulation shapes it and contributes to the outcomes we observe is of great importance.
Out of all the areas of economics, monetary policy and its impact on the macroeconomy might be the one that receives the most attention among non-economists.
Interventionist monetary policies, intending to lower interest rates to boost the economy or increase employment, are circumscribed.
Lagarde’s experience as a policy-maker and clear communicator may prove very successful.
As an introduction to the topics that will be dealt with in the AIER Graduate Colloquium, over the next few weeks Joakim Book will summarize the core readings that our students are currently reading to prepare for a good discussion at the event.
It happened sometime after the crisis of 1847.
Before New York acquired its status as the financial center of the world, the honor of that title was reserved for London and, before then, Amsterdam for roughly a century each.
Financial markets, including markets for complex instruments that may just look like speculative casino bets, allow important real transactions to occur. And in a brilliantly decentralized way, they bring into harmony people whose information, values, goals, and risk aversion differ.
To remain consistent, opponents of so-called fractional-reserve banking have to denounce overbooking practices among airlines as well as the entire business of insurance.
Why wouldn’t we want safe and stable banks? Like almost everything else in economics, benefits in one area comes with real costs in others.
Seismologists can’t predict earthquakes. Economists can predict financial meltdowns? Please.