Following the Financial Crisis of 2008, Western financial systems have been subject to much political debate. Severe misallocations of credit in the years leading up to the subprime mortgage led to excessive housing construction and speculation, culminating in a financial catastrophe. With this said, the role of large commercial and retail banks particularly hasn’t beenContinue reading “Quantity Theory of Credit: Better Banking?”
Tag Archives: economics
Reagan Revolution
Reagan took office in 1981 amidst a plethora of economic crises. Inflation soared in the double-digits at 13.5%, the unemployment rate stood at 7.5%, and energy prices were rocketing in the aftermath of the Iranian revolution. By the end of his two terms, inflation had fallen to 4.1%, unemployment down to 5.5%, and the USContinue reading “Reagan Revolution”
Keynesian Kiwis?
New Zealand has consistently performed as one of the wealthiest countries in the world with very high living standards. With a GDP per capita of $53,000 USD, this places New Zealand substantially higher than many of their Western counterparts, like Australia ($47,000 USD) and the UK ($39,000 USD). New Zealand’s prosperity has been achieved throughContinue reading “Keynesian Kiwis?”
Korean economy under Moon
Elected in 2017 following the resignation and subsequent jailing of the disgraced Park Geun-hye, Moon Jae-In became the 12th President of South Korea. However, his legacy needs more to be desired. While his administration’s handling of the coronavirus pandemic proved effective relative to other Western economies, spiralling housing and energy costs alongside a slowing domesticContinue reading “Korean economy under Moon”
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