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What's behind skyrocketing rental prices in Spain?

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What's behind skyrocketing rental prices in Spain?

Last month, Spain’s prime minister Pedro Sánchez was forced to call a snap election after Congress rejected his budget proposal. The call for elections and subsequent dissolution of parliament has not, however, prevented Sánchez’s caretaker government from continuing legislating via executive orders. Even though these executive orders need to be approved by the…

Book Review: The Clash of Economic Ideas

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Book Review: The Clash of Economic Ideas

The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years By Lawrence H. White Cambridge University Press; 1st edition (April 9, 2012) 438 pages, $39.77   “I’m rather good at it”, said a young John Maynard Keynes to a friend shortly after starting the only economics course he would take in his life; a course that would turn a…

The Bank of Spain warns about the harmful effects of raising the minimum wage

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The Bank of Spain warns about the harmful effects of raising the minimum wage

On December 21 last year, the Spanish government issued an executive order whereby it increased the national minimum wage by an astonishing 22.3 percent for fiscal year 2019. Despite the potentially harmful effects that such a drastic measure could have on Spain’s ailing labor market (the unemployment rate is still over 14 percent), Sánchez’s government didn’t hesitate to…

A neglected hero - worthy of the admiration given the Founding Fathers: part II

A neglected hero - worthy of the admiration given the Founding Fathers: part II

Grover Cleveland’s reforms, both real and abortive, during his first term (1885 – 1889) cost him his mandate in the 1889 election. Despite the efficacy with which he shrank the federal government, his resolute disregard toward special interests, and his focus on constitutional limits and fiscal responsibility, he became very unpopular with the majority of the electorate.…

A European Central Bank Primer (V): What does the ECB’s balance sheet look like?

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A European Central Bank Primer (V): What does the ECB’s balance sheet look like?

As the entity responsible for the conduct of monetary policy in the Eurozone, the ECB has a prerogative that no other financial institution possesses: it has an exclusive monopoly over the issuance of euros. As a result, the ECB’s financial position differs radically from that of any other bank in the Euro area. Today, we will take a closer look at the balance sheet of the Eurozone’s…

A neglected hero: part I

A neglected hero: part I

American President Grover Cleveland (1837 – 1908) is rather neglected in the sequence of US leaders. For schoolchildren, he appears as the man who was both the 22nd and the 24th president – he lost his reelection bid the first time to Benjamin Harrison but then defeated Harrison in his reelection bid four years later. Cleveland deserves to be remembered for much more than his dramatic…

Tax competition again under fire by European Commission

Blogger: Bill Wirtz
Tax competition again under fire by European Commission

The European Commission is attempting to secretly consult member states on unanimity voting on tax issues through a consultation process launched just before Christmas. In his recent piece titled “Don’t give The EU Commission more power to introduce new taxes“, Values4Europe blogger Anders Ydstedt lays out the pro-liberty case against the European Commission's push against…

A European Central Bank Primer (IV): Transmission Mechanisms of Monetary Policy

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A European Central Bank Primer (IV): Transmission Mechanisms of Monetary Policy

In a previous article, I introduced the concept of long-term neutrality of money, which the ECB defines as a general principle according to which “a change in the quantity of money in the economy will be reflected in a change in the general level of prices. But it will not induce permanent changes in real variables such as real output or unemployment.” Put differently, monetary…

Don’t give The EU Commission more power to introduce new taxes

Don’t give The EU Commission more power to introduce new taxes

When most of us where occupied preparing to celebrate Christmas the European Commission launched a web questionnaire on the initiative to move to a qualified majority voting on tax issues. This has been done without almost no media coverage. On january 15 the Commission will present the consultation. It is important for friends of liberty and lower taxes to react against this initiative. This is…

Open Borders? Maybe Not. Immigration According to the Austrian School (Part IV)

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Open Borders? Maybe Not. Immigration According to the Austrian School (Part IV)

Murray Rothbard   “… A wide and diverse range of communities which people can enter if they are admitted, leave if they wish to, shape according to their wishes”. Robert Nozick (1974: 307)   We have now reached Murray Rothbard and with him, we start our review of Austrians who are against unrestricted immigration. As we said in the introduction, Rothbard work in…

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