Is Credit Creation a Public Good or a Private Evil?

I have been painstakingly following the events of the Greek sovereign debt crisis, and the article yesterday entitled #ThisIsACoup: Greece bailout demands spark social media backlash against Germany struck a deep chord within me as the issue of our own sovereign debt crisis and our handling of it has been on the forefront of my… Read More

A Tale of Two Covenants

An essay on financial crises opens as follows: “What is mankind’s greatest invention? Ask people this question and they are likely to pick familiar technologies such as printing or electricity. They are unlikely to suggest an innovation that is just as significant: the financial contract. Widely disliked and often considered grubby, it has nonetheless played… Read More