Regulation seems to cause bank crises, not prevent them

City AM’s Pete Spence (formerly of this parish) reminded me of Mark Carney’s claims in January that free banking systems are more unstable than regulated ones. I’m not so sure. Take a look at these two charts from George Selgin’s Are Banking Crises Free-Market Phenomena?, which mark an x for every instance of a banking panic. […]

Let me Google that for you

Google is being targeted by protesters angry about the rapid increase in the cost of living in San Francisco. Their complaint focuses on Google’s employee shuttle buses using municipal bus stops, but the real problem seems to be that well-paid Silicon Valley workers have driven rents up in the city. In City AM I argue […]

The “Papers, please” immigration bill

In today’s City AM I highlight some of the worst parts of the government’s Immigration Bill. The Bill forces private citizens like landlords, nurses, wedding registrars and others to become de facto state informants, reporting anyone they suspect of being an illegal immigrant to the authorities: But “papers, please” could soon become government policy. Whatever your […]

Kick the ‘wise men’ out of the Bank of England

In today’s City AM, newly-minted ASI fellow Lars Christensen (aka The Market Monetarist) writes on the ‘Carney rule’. The Carney announcement is a tiny step in the right direction, he says, but as long as the ‘wise men’ of the Monetary Policy Committee are running monetary policy, policy will be erratic and unpredictable, preventing adequate planning […]

Leave One Direction alone!

In yesterday’s City AM I responded to Vince Cable’s condemnation of the boyband One Direction’s £25m earnings. The point that Cable missed, I argued, was that income is a reflection of value created for other people: Earnings are not a reflection of moral worth, they’re a product of how much other people are willing to […]