This "Modest Proposal" by authors Varoufakis and Holland outlines a three-pronged, comprehensive solution to the eurozone crisis that simultaneously addresses the three main dimensions of the current crisis in the eurozone (sovereign debt, banking, and underinvestment), restructures both a share...

The Crash of 2008 is often blamed on the Fed’s overly ‘loose’ monetary policy after 2001 (see Taylor, 2009, 2010). In short, the argument goes, American monetary policy was too ‘loose’ for four years between 2002 and 2006; and too ‘tight’ once the Fed realised that it was presiding...

During 2010, each and every response by the Eurozone to the galloping sovereign debt crisis has been consistently underwhelming. Monthly European Union Summit pronouncements, which during the first half of 2010 were met with initial goodwill by the markets and commentators, quickly proved the...

Economics, like any other scientific pursuit, ought to be educational. However, two observations cast doubt on whether it is. First, we find that students of economics seem to become less civilised the more they surrender to their discipline's ways. Secondly, contemporary economics, as practised...

Following the Crash of 1929, an epic debate began between liberals, led by Friedrich von Hayek, who believed in capitalism's automatic stabilisers and John Maynard Keynes who did not. Today, in Europe, this debate has taken an interesting twist. On the one hand, most libertarians have succumbed...