Articles in English 105

To Save Europe, Free the Markets

21 октября 2013

Frank Hollenbeck
October 19, 2013

The current European economic strategy is to kick the can down the road. Debt levels in almost all European countries continue to rise and growth seems to be a long forgotten memory. The day of reckoning is around the corner, as Rudi Dornbush once warned, "[t]he crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought, and that's sort of exactly the Mexican story. It took forever and then it took a night."

МВФ и Беларусь могут войти в ту же реку трижды

Ярослав Романчук

12 января 2009 года Международный валютный фонд выделил Беларуси кредит «стэнд-бай» в объёме $2,46 млрд. под 5% почти на 5 лет. Позже Фонд добавил под обещания белорусских властей строить рынок ещё $1 млрд. 4 июня 2011г. Совет Антикризисного фонда ЕврАзЭС выделил правительству РБ кредит $3 млрд. под 4,1% годовых на 10 лет. Белорусские власти особо не утруждали себя изменениями бизнес планов для внешних кредиторов. Набор обещаний был примерно одинаковым: макроэкономическая стабилизация, структурные реформы, ценовая либерализация и создание рыночных институтов, которые бы позволили белорусской экономике развиваться самостоятельно. Сегодня мы видим, что цели и задачи кредитных программ не выполнены. Деньги кредиторов были потрачены впустую, отяготив страну миллиардами долларов внешнего долга.

Patrick Barron
October 12, 2013

We use the term "reserve currency" when referring to the common use of the dollar by other countries when settling their international trade accounts. For example, if Canada buys goods from China, it may pay China in US dollars rather than Canadian dollars, and vice versa. However, the foundation from which the term originated no longer exists, and today the dollar is called a "reserve currency" simply because foreign countries hold it in great quantity to facilitate trade.

Ryan McMaken
October 05, 2013

There is a common assumption among politicians that voters want a lot of government services, but don't want to pay for them. It's certainly true that taxpayers don't like paying taxes, and this is demonstrated in the fact that the federal government runs a deficit virtually every single year. If the taxpayers didn't mind paying the full cost of government, the feds would be able to collect enough in revenue to pay the bills. As it is, the political realities of public opposition to taxation drive the feds to resort to deficit spending to cover their costs.

David Gordon

Crony Capitalism in America, 2008-2012. By Hunter Lewis

Those of us who favor the free market must confront a problem. The virtues of the market, and the vices of socialism and interventionism, have been made incontestably clear by Mises, Rothbard, Hazlitt and others. The case for the free market, as these great figures explain it, can readily be grasped and demands no esoteric knowledge. Yet many academics reject the market. They condemn capitalism for leaving many in poverty and for glaring inequalities. How can so many academics fail to grasp what seem to us obvious truths?

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