ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Avinash PersaudSubscribe to RSS - Avinash Persaud

That Sinking Feeling

The United States (US) is sinking. It is what happens to a country when it blames everyone else for its ailments. The problem is that when the biggest boat in the water sinks, it pulls others down with it. This is not, therefore, time for the rest of the world to indulge in Schadenfreude over the...

The Corruption of Economics

Twilight of the Money Gods: Economics as a Religion and How It All Went Wrong by John Rapley, London: Simon and Schuster, 2017; pp 468, £20.

Future of Europe’s Economic and Monetary Union

Is Trump Magic Making America Great Again?

Lebenslüge of Money Laundering

Strange and Worrying International Market Liquidity

There seems to be a rise in illusory liquidity in international markets, which appears to be plentiful in quiet times, but vanishes at other times. “Flash crashes” are more frequent. Reforms that have made banks safer have contributed to this, leading to a withdrawal of short-term market participants, and causing long-term investors to act short term. There seems to be a trade-off between day-to-day liquidity and what I call “systemic liquidity.”

Brexit and Other Harbingers of a Return to the Dangers of the 1930s

Delinking Housing Cycles, Banking Crises, and Recession

The nexus of housing boom-busts, banking crises, and economic cycles is not unique to the last crisis and has been increasingly present in each of the major banking crises since the break-up of Bretton Woods in the early 1970s. Housing is a politically charged issue. A safer housing market, via planned fiscal intervention to steady supply, would do more to make the financial system safer than all of the other recent initiatives put together. Cheaper finance without cheaper homes only deepens housing inequality.

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