8th February 2012
Europe's new plan to take €130 billion that would have gone to Greece in the second bailout, and put it in an escrow account (funds that will be disbursed by a non-Greek overseer) – "amounts to cutting out the middle man – the debtor." London Banker
"The most that core consumer prices have risen in a 12-month period since Mr Bernanke took over is just 2.9%." Ryan Avent says Senator Charles E. Grassley is wrong in claiming that Bernanke cares more about unemployment than about inflation. The Economist
Despite Angela Merkel hailing last weeks draft of a fiscal compact as a masterpiece – "the consequences of fiscal austerity are already dramatic, and the notion that more of the same can actually have a positive effect is simple madness." Naked Keynesianism
"Twenty years ago, communist countries began their shift towards capitalism. What do we know now that we didn't know then?" Russian-born economist Andrei Shleifer provides his answers and their relevance for contemporary policymakers. Vox eu
David Glasner highlights two papers by economics blogger Daniel Kuehn, which show that one of the really big differences between the 1920-21 Depression and the Great Depression in the 1930s was that there was no gold standard operating during 1920-21. Uneasy Money
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