Sublime

Politics itself is just a matter of creating the conditions for growing the economy by allowing the magic of the marketplace to do its work. All other hopes and dreams—of equality, of security—are to be sacrificed for the primary goal of economic productivity. But global economic performance over the last thirty years has been decidedly mediocre.

It is well‐known that history is written by the victors, but in the era of government money, victors get to decide on the monetary systems, too. The United States summoned representatives of its allies to Bretton Woods in New Hampshire to discuss formulating a new global trading system. History has not been very kind to the architects of this syste

Les interventions des banques centrales au printemps 2020 n’ont pas été justifiées politiquement pour monétiser un programme de relance keynésien comme ce fut le cas après la Seconde Guerre mondiale. L’intervention est restée circonstanciée, proportionnée à l’objectif d’inflation, et surtout convoquée en urgence par l’instabilité financière. Pourta

The Principle of Growth: We should maximize the rate of sustainable economic growth, defined in terms of a concept such as Wealth Plus.

The Bob Rubin trade? Robert Rubin, a former Secretary of the United States Treasury, one of those who sign their names on the banknote you just used to pay for coffee, collected more than $120 million in compensation from Citibank in the decade preceding the banking crash of 2008. When the bank, literally insolvent, was rescued by the taxpayer, he