Economics

UK helicopter money: a solution in search of a problem

Talk of UK helicopter money is whirring up again. I can’t really see why.

Sure, there’s a case — in extremis — for a central bank to create money and either buy and cancel government debt (effectively financing…

Panics, Crises, the Fed & the Labour Share

Once upon a time it was common to refer to financial market catastrophes as panics rather than the more modern terminology crises. So the panics of 1873, 1893 and 1907 gradually gave way to the crises of Asian crisis of 1997/98, the all-consuming crisis…

Global Output Gaps & Inflation

The global economy looks a bit more ropey than it did a few weeks ago. Or at least is does if you’re taking your cues from equity and commodity markets, which have chosen to mark my return to the financial services industry with the worst start the year in decades.

Friedrich Hayek Supported a Guaranteed Minimum Income

Not only that, he assumed it would exist

Paul Romer mis-handles atomic physics

He thinks that some of the core mathematical models of modern economics are every bit as…