
Germany is roundly seen as the obstacle to saving the Euro by refusing to allow massive bond purchases and refusing to consider Eurobonds. The real obstacles however are poor options, not Germany.
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Germany is roundly seen as the obstacle to saving the Euro by refusing to allow massive bond purchases and refusing to consider Eurobonds. The real obstacles however are poor options, not Germany.
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Prohibition and trade politics in Middle Earth, thoughts on valuation, sovereign crises and other links, thoughts and asides...
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What is America good at? Is trade and openess the issue, or the lack of it? The corporate profits bubble and other thoughts, links and errata.
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Bloomberg has an excerpt from Sylvia Nasar’s new book on the history of economics. It deals with the years when Hayek and Keynes were considered rivals. The two men were not as far apart as many believe, in fact Keynes was a hero of Hayek’s and this short piece illustrates that:
“One year after Bretton Woods, the Cold War had started,“The Road to Serfdom” was on American best-seller lists, and Hayek went on a wildly successful book tour around the U.S. Along the way, to the annoyance of his conservative sponsors, he spoke up in favor of the Bretton Woods treaty and the framework of international government cooperation that Keynes had done so much to bring about.”
Murray Rothbard would be horrified.
If you missed the 4 minute history of economic ideas I posted earlier here it is again:
From Steven Terjeson:
A great presentation that was provided to us showing photos taken during WWII at Normandy, France and photos taken in the modern day same location. It is amazing how so many things are still the same, yet different.
From The Author of “A Beautiful Mind” the inspiration for the movie of the same name we get this wonderful video promoting her latest book, Grand Pursuit: The Story of Economic Genius
Brad Smith shares my antipathy toward Woodrow Wilson and sends this old newspaper piece from 1906 as further evidence against him: The newest charge to be made against automobilists is brought by President Woodrow Wilson of Princeton University, who accuses them of encouraging the spread of Socialism. President Wilson’s statement was made before the dinner of the...
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Timothy Snyder reviews Andrew Roberts’ “The Storm of War” and ponders the ways history could have played out differently.

John Hussman is always worth a read. I like this from his letter this morning: As I wrote in April 2000, bear market psychology typically evolves something like this: “This is my retirement money. I can’t afford to be out of the market anymore!” “I don’t care about the price, just get me in!!”...
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In the annals of excruciating misery during wartime, few events can compare with what befell Napoleon’s troops during his campaign in Russia. From Strange Maps we see the suffering and tragedy in graphic statistical form. (click image to enlarge) “The best statistical graphic ever drawn“, is how statistician Edward Tufte described this chart in...
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