Labour needs what oppositions always need - a charismatic leader and some really bad government screwups. (View Post)

There has been huge asset price inflation, but relatively little product market inflation. The latter is because of the favourable supply side shock caused by the inclusion of a number of developing … (View Post)

I think the main reason why Germany is so attached to price stability is because they weren't really exposed to the Keynesian revolution that swept England and America in the late 1930s and 1940… (View Post)

That's a competely different point. I agree to an extent, but you overstate the effects of the tariffs. (See Krugman on this). World trade was collapsing because the world economy was collapsing… (View Post)

People often say that, but I'm not convinced. It was the Great Depression, not the 1923 inflation, that resulted in the rise of Nazism. The Nazis actually did really badly in elections in 1924 a… (View Post)