Recent stories
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Chancellor: A 300-year lesson in bubble inflation
In December 1718, the newly nationalised Banque Royale became France’s first de facto central bank. Under Scotsman John Law, it proceeded to issue paper money in what was arguably the first instance of quantitative easing. Central bankers take note: it ended very badly.13 February 2019 -
Review: Paul Volcker’s exemplary life
The former Fed chairman is famous for crushing inflation. His new memoir, “Keeping At It”, reveals the attributes that made him arguably America’s greatest central banker. His common sense, distrust of economic theory and personal integrity are valuable guides to his successors.30 November 2018 -
Chancellor: Lehman’s easy money extends to China
The last in a series of essays marking the 10th anniversary of the crisis argues the ultralow rates that inflated assets and led to widespread capital misallocation, wealth inequality, financial instability and other risks in advanced economies are even more evident in China.17 September 2018 -
Chancellor: The carry trade that followed Lehman
14 September 2018 -
Chancellor: “Haves” enriched most from Lehman bust
13 September 2018 -
Chancellor: The legacy of ultralow interest rates
10 September 2018 -
Chancellor: Zombies are Lehman’s dangerous spawn
11 September 2018 -
Chancellor: The mother of all speculative bubbles
11 September 2018 -
Review: The complex causes of the financial crisis
3 August 2018 -
Chancellor: Index investment riskier than it looks
22 March 2018