Reading List: The

28th February 2012

The ‘High Oil Prices = Recession' Fallacy

"Every time we see oil prices go up we hear that it will cause inflation and/or the economy will go into the tank. The premise is wrong." According to Jeff Harding, the expansion of the money supply is to blame for both inflation and economic downturns. Zero Hedge

 

It's the Houses, Stupid

Derek Thompson says America's weak housing market explains why this recovery looks different to the previous eight recoveries. "For the first time in the post-war period there has been essentially no recovery in residential investment." The Atlantic

 

Weimar Europe?

Harold James notices the parallels between conditions in Europe today and those in the interwar period, where Weimar Germany lost its competitiveness because it locked itself into a currency regime, the international gold standard. Project Syndicate

 

Bernanke in theory versus Bernanke in practice

What explains Bernanke's caution as Fed chair? This column argues that social psychology may be at the heart of the reason why in such a short space of time, Ben Bernanke changed his previously strong held views about zero bound interest rates. Vox EU

 

Why China Will Have an Economic Crisis

"I always say about economics is that you can't escape math. And China has lots of numbers that just don't add up." Michael Schman is convinced that China's current economic system of state capitalism is unsustainable. TIME

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