Faculty Spotlight Interview: Philipp Bagus

Philipp Bagus is professor of economics at Universidad Rey Juan Carlos in Madrid. He earned his Bachelor and Master at the University of Münster and his Ph.D. from Universidad Rey Juan Carlos with Jesús Huerta de Soto as his adviser on a thesis on deflation. He is the author of The Tragedy of the Euro – How Political Interests Created a Self-destroying System (forthcoming) and Deep Freeze: Global Credit Markets and the Icelandic Financial Crisis (forthcoming with co-author David Howden).

Letter opposing Fed policies

Concerning the letter from economists protesting the Fed’s QE2, perhaps the details of monetary policy have been the subject of this level of public debate before, but I don’t recall it personally. At the same time, I’ve never heard of a Fed governor who was so open about his plan to inflate the money supply. It was almost as if he wanted to generate inflation expectations and play off market psychology to drive down the dollar.

More “Orderly Resolutions” on the Way

Robert Shiller warns that taxpayers–those stupid people who irrationally object to being looted to benefit large banks and corporations because these stupid people don’t understand how stealing trillions is actually a necessary and wonderful thing–are not up for another round of bailouts, and yet such bailouts are inevitable. In fact, they’ve barely begun, he says. So the next time around, the state and its connected elites need a better vocabulary in which to frame the criminal enterprise.