On Lombard Street – Part II

‘Political economists say that capital sets towards the most profitable trades, and that it rapidly leaves the less profitable and non-paying trades. But in ordinary countries this is a slow process, and some persons who want to have an ocular demonstration of abstract truths have been inclined to doubt it because they could not see […]

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On Lombard Street – Part I

‘But I maintain that the Money Market is as concrete and real as anything else; that it can be described in plain words; that it is the writer’s fault if what he says is not clear.’ ‘The briefest and truest way of describing Lombard Street is to say that it is by far the greatest […]

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Capping Taxes or Capping Revenue?

By Brandon Mitchell Alex Estorick, an intern at ConservativeHome, has commented on top end marginal tax rates and an old New Zealand  Labour party proposal to cap the amount of income tax any given individual was expected to pay. It was difficult not to notice a slight mismatch between the rationale for supporting such a […]

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On Corporate Financing

By Brandon Mitchell Annette Poulson has written a survey of literature on how corporations choose to finance. The following are some comments on that essay. We are all familiar with the variety of motivations for taking on personal debt whether it be to facilitate consumption (credit cards) or to leverage cash flow for investment (home […]

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A Primer On Money – Part I

What is money? People encounter so many different measures of money supply, with esoteric designations like M0, MB, M1, M2, M3, and MZM, that difficulty inevitably arises when trying to understand just what exactly constitutes this ubiquitous, yet ill-defined facet of life. When considering such a question as ‘what makes something what it is,’ functional […]

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Money and Morality

All these evils caused by the depreciation of the money in circulation are most afflicting; but there is another evil, far more deadly, that this depreciation has engendered and which will spread more and more: that is, the moral depravity of the population and abandon of every principle of equity. Truly, the discredit of the […]

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On Arizona House Bill 2822

Representatives Pancrazi, Farley, Saldate, Tovar, Ableser, Alston, Crandell, Jones, McCune, Davis and Pratt have decided that Arizona needs a new organization which they would like to call the Joint Legislative Study Committee on Farm-to-School Programs. It will be the purposes of this organization, they propose, to engage in all of the following four activities: Evaluate […]

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Policy and Federal Unity

There are incidents in history that can inform our present outlook. I would like to suggest that in the context of American politics the following is one. There is an account of the American Civil War that begins roughly as follows: The American south feared for their way of life, so they took steps to […]

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