Author Archive: Emily Skarbek

Emily Skarbek is a Research Fellow at the Independent Institute.
Full biography and recent publications

The Euro in Retrospect


Wednesday December 28th, 2011   •   Posted by Emily Skarbek at 10:12am PST   •   3 Comments

In a NBER working paper, Martin Feldstein argues that the Euro “should now be recognized as an experiment that has led to the sovereign debt crisis in several countries, the fragile condition of major European banks, the high levels of unemployment, and the large trade deficits that now exist in most Eurozone countries.” The...
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Christmas Trees: A Lesson in Central Banking


Friday December 23rd, 2011   •   Posted by Emily Skarbek at 8:20am PST   •   1 Comment

Mark Spitznagel has a short op-ed in the Wall Street Journal where he illustrates the disastrous effects of central planning through monetary policy. The actions of the Federal Reserve have only allowed bad investments to persist and to postpone inevitable corrections necessary in the capital structure of the economy. Herein are pearls of great...
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Capitalism: Doomed To Fail?


Sunday December 18th, 2011   •   Posted by Emily Skarbek at 7:22am PST   •   9 Comments

Over at Project Syndicate, Kenneth Rogoff answers the question: “Is Modern Capitalism Sustainable?” Rogoff starts by saying that if what you mean by capitalism is the European model of a welfare state, the answer is no. Continental European capitalism, which combines generous health and social benefits with reasonable working hours, long vacation periods, early...
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How the Grinch Stole the Free Market


Wednesday December 14th, 2011   •   Posted by Emily Skarbek at 1:16pm PST   •   1 Comment

Sarah Skwire has penned a lovely rendition of a Christmas favorite. Below is her poem — full of truth, wit, and seasonal charm. Be sure spread some cheer this season and share this poem with all your free-market friends! How the Grinch Stole the Free Market All the folks Down in Galt’s Gulch Liked...
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The Fed’s $7.77 Trillion Secret Bailout


Monday December 5th, 2011   •   Posted by Emily Skarbek at 11:45am PST   •   3 Comments

The Daily Show with Jon StewartGet More: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook As it has come to light, from August 2007 to April of 2010 the Fed loaned out over $7.7 trillion to troubled banks. A Bloomberg report reveals that the U.S. government made these secret bailouts...
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Do Bailouts Help the Poor?


Monday November 21st, 2011   •   Posted by Emily Skarbek at 8:55am PST   •   2 Comments

Recently, I posted about Adam Smith’s fiscal principle: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” In light of this rule, it is important to consider whether or not the state should bail out the heavily indebted poor. Considering hard cases such...
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Central Banking as the New Central Planning


Thursday November 17th, 2011   •   Posted by Emily Skarbek at 7:02am PST   •   0 Comments

Below is an excellent Bloomberg interview with James Rickards, senior managing director of Tangent Capital Partners and author of “Currency Wars: The Making of the Next Global Crisis.” He talks with James Grant, publisher of Grant’s Interest Rate Observer, on recent Federal Reserve monetary policy, the gold standard and the impact of Fed policy...
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The Wrath of Keynes


Wednesday November 16th, 2011   •   Posted by Emily Skarbek at 7:45am PST   •   4 Comments

James Buchanan and Richard Wagner begin their book Democracy in Deficit by explaining that prior to the absorption of Keynesian economics, the conventional wisdom of Adam Smith prevailed. Adam Smith had observed that: “What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.” This...
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European Central Bank: Draghi Steps into Deeply Entrenched Source of Monetary Evil


Thursday November 3rd, 2011   •   Posted by Emily Skarbek at 7:47am PST   •   2 Comments

New president Mario Draghi takes the reigns of the ECB, lowering the benchmark rate 25 basis points to 1.25 percent. The move is touted as a step to avert a looming recession and offset the tension caused by the ongoing sovereign debt crisis. Draghi takes office in a climate of extreme uncertainty. Greece is...
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Scary Debt Figures


Thursday October 20th, 2011   •   Posted by Emily Skarbek at 7:23am PST   •   0 Comments

The United States will officially pass the 100 percent debt-to-GDP line on Halloween. This is the first time this has ever happened since World War II. As Zero Hedge reports, We decided to dig into the actual numbers (cancelling out the per capital denominator as it is the same on both sides of the...
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