Monthly Archives: October 2010

When religious individuals, in numerous cultures and religions throughout history, sought to better themselves intellectually and ultimately morally, they opted for austerity. They sought to overcome the desires that bind the soul to the flesh. Through austerity they allowed the … Continue reading →

The state, the large unit, is an inefficient allocator of resources. Investment in research and development can be more efficiently carried out by the small unit, the venture capital firms. Lower levels of taxation in an economy would lead to … Continue reading →

Prime Minister’s speech at the CBI 2010 annual conference. In his address to the CBI Cameron argued that “Successful, high-growth economies are like ecosystems—they are organic, evolve through trial and error and depend on millions, billions, of individual preferences, choices … Continue reading →

The level of demand for a country’s goods and services is mirrored in the value of its currency. Were Germany to revert to its old currency, the deutschmark would in all probability be very near the current value of the … Continue reading →

In the early 2000s ECB set low interest rates in an attempt to stimulate a sluggish German economy struggling in the aftermath of a costly re-unification with the former communist GDR. The low interest rates that applied to the whole … Continue reading →