Ludwig von Mises wrote that, “[d]emocratic control is budgetary control. The government has but one source of revenue—taxes. … But if the government has other sources of income it can free itself from this control.” This principle is particularly important
From today’s Open Europe news summary: ECB Executive Board member Yves Mersch said yesterday that the ECB will begin purchasing Asset Backed Securities (ABS) next week. He added that, “should the situation deteriorate further”, purchases of sovereign debt remain an
From today’s Open Europe new summary: Following the release of thousands of secret documents detailing how Luxembourg helped companies avoid paying taxes, an FT leader argues, “For the sake of his own credibility – and that of the commission – [Jean-Claude Juncker]
Patrick Barron: The End of the US Dollar Imperium, Part 2 Jeff Deist and Patrick Barron continue their discussion on monetary imperialism. They delve deeper into US dollar supremacy, and how it might end with a whimper instead of a
My latest interview on Power Trading Radio re: European developments that may prove positive in the long run
Click below to hear my latest interview on Power Trading Radio. I discuss in more detail the various movements in Europe that I view as economically positive in the long run. The interview last approximately one half hour with two
Play video Jeff Deist and Patrick Barron address the issue of monetary imperialism. How does the US use the dollar as a weapon of economic and cultural power? How long can it last? What might the unprecedented… 00:17:01 Added on
From today’s Open Europe news summary: Hans-Werner Sinn: Some countries should be allowed to temporarily leave the euro Open Europe yesterday hosted the launch of Professor Hans-Werner Sinn’s new book, ‘The euro trap: on bursting bubbles, budgets and beliefs’. At
I have started reading a new book about the collapse of the Zimbabwean dollar–When Money Destroys Nations, by Philip Haslam and Russell Lamberti. One of the main causes of the hyperinflation was the decision of the Zimbabwean government to give
From today’s Open Europe news summary: German economist Hans-Werner Sinn writes in the FT, “Deflation is not a danger for southern Europe, but an essential precondition for restoring competitiveness.” He describes the ECB’s latest asset purchase plan as “nothing less than
Is New York City’s Proposed Ban on the Use of Supplemental Nutrition Assistance Program Benefits for Purchases of Sugar-Sweetened Beverages Effective Policy?
In 2011, New York City mayor Michael R. Bloomberg proposed a ban on using Supplemental Nutrition Assistance Program benefits (commonly known as food stamps) for the purchase of sugar-sweetened beverages. While the plan has been criticized by food and beverage
The worship of science is a peculiar feature of our age, especially given the incredibly broad and non-specific nature of the term, and the vast quantitative and qualitative differences in outcomes from various types of research within the scientific disciplines.