Day: May 29, 2019

Thomas Sowell is Back Again to Discuss His Book Wealth, Poverty, and Politics

The Irish crisis: Lessons for small central banks

Mostly Economics

Patrick Honohan was the Governor of Central Bank of Ireland (2009-15) during the 2008 crisis which hit the economy badly. He has penned a book on his years at the central bank: Currency, Credit and Crisis Central Banking in Ireland and Europe.

He shares some lessons on voxeu.org:

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Economic failure: the reluctance to recognise the implications of extreme remoteness

New Zealand has always been small and remote so it is necessary to show the geographic factors are time varying for remoteness to be important to the productivity drop that started in 1973

croaking cassandra

As regular readers know, I tend not to be particular upbeat about the New Zealand economic story.  For anyone new, there should be a hint in the very title of the blog.  If, by chance, you are still attracted to an upbeat take, only last week in a post here I critiqued a recent book chapter taking that sort of view.

And so I was a bit surprised when, more than a year ago now, I was asked to write a chapter for a forthcoming book on aspects of policymaking, and associated outcomes, in a small state (this one).  In principle, the book sounded potentially interesting, and they were approaching a bunch of pretty serious and senior people to contribute.  But it wasn’t clear there was much in it for me, and since the plan was for the introduction or foreword to have been written by the head of the…

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Rothbard on Insider Trading