The great economist Ronald Coase has died at the age of 103. Vuk Vukovic explains what made Coase such an influential and profound thinker.
Dr Madsen Pirie’s speech in opposition to the motion: “Karl Marx was right. Capitalism post-2008 is falling apart under its own contradictions.”
Robert CB Miller gives a modern Austrian explanation of the crisis, and argues that tightening the ‘loose joint’ of bank credit expansion is the key to preventing a repeat in the future. Based on the work of FA Hayek and other Austrian school economists, he says that the recession is a necessary part of the recovery process, as bad investments are liquidated and new profit routes discovered, but government draws out this process by regulating markets and restricting trade.
The US Department of Justice’s lawsuit against Standard and Poor’s is misguided, says our legal writer Lawsmith. It was the market’s confidence in the ratings agencies that was at fault, not the agencies themselves.