Activity

German unification began with a customs union known as the Zollverein, an 1833 agreement between the various territories promoted as a first step towards freer trade and much needed economic integration.

Having made the transition from Gestapo-organized paramilitary to local gendarmerie

The idea is simple: the central bank buys from commercial banks other people's debts. Who are these 'other people'? They can be families that owe mortgages to the bank, corporations, or even a government that has sold bonds to the bank. In exchange for these debts and the stream of income they prod…

John Maynard Keynyes, back in 1936, had to quote Ibsen's Wild Duck in order to convey to his reader the problem that a central bank faces when interest rates fall to zero but the economy is still in the doldrums