Before the financial crisis, Portugal, Italy, Ireland, Greece, and Spain had been able to finance their deficits at artificially low interest rates. They all assumed that their governments would be bailed out by other countries of the eurozone in order to preserve the holy European Union.
The number of inhabitants in a state depends on their means of subsistence. The means of subsistence depend on the method of cultivating the soil, and this method depends chiefly on the taste, desires, and manner of living of the property owners.
Like today’s central bankers, John Law proposed to “supply the nation” with a sufficiency of money.
Like today's central bankers, John Law proposed to "supply the nation" with a sufficiency of money. The increased money was supposed to vivify trade and increase employment and production — the "employment" motif providing a nice proto-Keynesian touch.
A man who is obliged to justify his handling of a matter in the eyes of other people often resorts to a pretext. As the motive of his deviation from the most suitable way of procedure he ascribes another reason than that which actually prompted him.
Weighing in on the side of John Locke, not only on interest rates but also in a general and comprehensive vision of economic laissez-faire that eve
In 1824, the Spitalfields Act of wage control for silk weavers was repealed after being in force for 50 years. The act was essentially a disaster that devastated the industry and the workers.
Weighing in on the side of John Locke, not only on interest rates but also in a general and comprehensive vision of economic laissez-faire that even surpassed Locke, were two brothers, Dudley and Roger North.
Excerpted from a speech given in the House of Commons on the civil disabilities of the Jews, April 17, 1833: "Let us do justice to them. Let us open to them the door of the House of Commons. Let us open to them every career in which ability and energy can be displayed."
