Beyond a certain level of wealth, it’s hard to see why the law should force parents to turn their children into rentiers.
Can central banks save us? No, not completely. But they hold part of the key to solving the current crisis. Let’s start from the beginning. There have always been two ways for governments to get money: impose taxes or create currency. Generally speaking, it’s infinitely preferable to impose taxes. …
And despite persistent beliefs to the contrary, “printing money” doesn’t translate into massive inflation: when you’re on the edge of a depression, the main problem is avoiding a deflationary spiral. Between September and December 2008, the ECB and the Fed created nearly €2 trillion in new money (1…
