The Life of Edward II, King of England and Lord of Ireland. Part V.

liamfoley63's avatarEuropean Royal History

The Despenser War

The long-threatened civil war finally broke out in England in 1321, triggered by the tension between many of the barons and the royal favourites, the Despenser family. Hugh Despenser the Elder had served both Edward and his father, while Hugh Despenser the Younger had married into the wealthy de Clare family, became the King’s chamberlain, and acquired Glamorgan in the Welsh Marches in 1317.

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In early 1321, Lancaster mobilised a coalition of the Despensers’ enemies across the Marcher territories. Edward and Hugh the Younger became aware of these plans in March and headed west, hoping that negotiations led by the moderate Earl of Pembroke would defuse the crisis. This time, Pembroke made his excuses and declined to intervene, and war broke out in May.

The Earl of Lancaster held a high-level gathering of the barons and clergy in June which condemned the Despensers for having broken the…

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Stephen Williamson on quantitative easing

From http://newmonetarism.blogspot.com/2011/04/qe2-is-irrelevant.html

Do economists ignore the impact of debt on the business cycle?

Edward Prescott on the unimportance of monetary policy

See lecture at https://www.mediatheque.lindau-nobel.org/videos/37267/panel-conditions-monetary-fiscal-policy/laureate-prescott

Edward Prescott, co-recipient of the Nobel Prize in 2004, took a different view in a presentation with the title ‘The Unimportance of Monetary Policy and Financial Crises on Output and Unemployment’. He cited financial crises that saw countries experiencing contrasting outcomes at the same time: the US and Asia in the 2008 crisis; Chile and Mexico in 1980; and Scandinavia and Japan in 1992.

‘Financial crises do not impede development,’ he claimed. While the 2008 financial crisis was localised in North America and the euro area, there was a short recession and quick recovery in Japan, Taiwan and South Korea and no recession in Scandinavia and Australia. ‘Countries where fiscal policy was irresponsible had problems’, he maintained. ‘Fiscal responsibility is crucial: to spend is to tax and to tax is to depress. That’s what happens every time.’

Why Sci-Fi Alien Planets Look The Same: Hollywood’s Thirty-Mile Zone

Eurogliders – We Will Together (1986)

Diverted down historical byways

Michael Reddell's avatarcroaking cassandra

Get me onto interwar economic history and I can get a little carried away.  I don’t like to think quite how many books on the Great Depression – in all manner of countries – and events either side of it I bought when I first got fascinated by it, and my interest continues.  New Zealand is a fascinating subset of that history/experience, although it is still the case that there is no single comprehensive economic, and economic policy, history for New Zealand in the interwar period, even though so much of interest/importance was going on.

Anyway, after yesterday’s post a reader kindly sent me a copy of a new NBER working paper by two prominent economic and monetary historians, Michael Bordo and Christopher Meissner.  Their topic is “Original Sin and the Great Depression” –  no nothing theological, but rather referring to the difficulty most countries long had (many still have)…

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G. Warren Nutter on public policy making

From https://econjwatch.org/File+download/451/Allen1977ReprintSept2010.pdf?mimetype=pdf

The legacies of discrimination past

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Ronald Reagan tells a joke about buying a car in the Soviet Union

The Corona Crisis – a Scandinavian perspective.

Lars Christensen's avatarThe Market Monetarist

Today Swedish journalist Nathalie Besèr and I have had a talk about the economic and political perspectives on the corona crisis from a Scandinavian perspective.

We among other things talk about the different policies in the Scandinavian countries and look at the economic consequences of the crisis.

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Great tip

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Are securities analysts doomed? | Lex Megatrends

Field Rations, Foreign Legion, and French Anti-Semitism – WW2 – OOTF 010

Edward C. Prescott on monetary policy

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