The Governor of the Bank of England has launched a scathing attack on “deceitful” investment banking and called for a “real change in the culture of the industry” stretching right to the top, in the wake of the Barclays rate-fixing scandal. Sir Mervyn King, who refused to back Barclays chief executive Bob Diamond, added that [...]
By DeusExMacintosh
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Posted in Britain, Economics, Funnies, Law, Politics
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Tagged Bank of England, banking, Barclays Bank, finance, Financial Services Authority, FSA, LIBOR, Mervyn King, The City of London
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Does this count as food p0rn? One of the joys of travelling around Venezia in particular was the plentiful gelati outlets, with a wide variety in flavours. A couple of scoops could be both a new taste treat and a sugar boost to fuel the pleasurable ambling. This is also the Saturday chit-chat thread.
The sinking of a boat carrying 200 asylum seekers last week near Christmas Island has reignited debate over Australia’s policy deadlock. The government has renewed a call for a refugee swap deal with Malaysia to deter people smuggling. However, the opposition is demanding that an immigration detention centre on Nauru be reopened. Meanwhile, authorities say [...]
By DeusExMacintosh
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Posted in Australia, Funnies, Immigration, Politics
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Tagged asylum seekers, Australian Labor Party, Australian Liberal Party, Australian politics, illegal immigration, indonesia, indonesia boat tragedy, Julia Gillard, refugees, Tony Abbott
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Dr Horwitz’s thoughtful and generous response to my original post is useful in clarifying what a serious Austrian school economist thinks and correcting some of my misapprehensions. It seems to have been a useful exercise, to provide reactions to Austrian commentary from someone much more familiar with mainstream economics. Even better, I now have something I [...]
By Lorenzo
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Posted in Australia, Britain, Economics, Entrepreneurs, History, Public Policy
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Tagged Austrian business cycle, Austrian school, credit, deflation, disinflation, Eric Hoffer, Frederich Hayek, housing market, Inflation, interest rates, John Maynard Keynes, macroeconomics, Matt Ridley, monetary economics, monetary policy, Sport, Steve Horwitz, unemployment, von Mises
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To William Beveridge it was about eradicating evil – the “giant evils” of squalor, ignorance, want, idleness and disease. To David Cameron it is about encouraging citizens to do the right thing – to work, to save, to take personal responsibility. The prime minister urges us today to go back to first principles in thinking [...]
By DeusExMacintosh
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Posted in Britain, Funnies, Personal, Politics, Public Policy, Welfare
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Tagged benefits, benefits system, david cameron, disability, mark easton, the poor laws, the welfare state, UK conservative party, welfare reform, william beveridge
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Getting a thighful It is a cliche that art has attracted a few queer (as in not heterosexual and/or gender conforming) folk over the centuries. (Are we really surprised that the sculptor of the magnificently homoerotic David was not exactly a raging heterosexual?) And, in past centuries, art was overwhelmingly religious. So, queer sensibility manifests, [...]
By Lorenzo
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Posted in Art, History, Religion, Sexuality
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Tagged Alan Turing, Carravagio, Cistercian Fathers, Elizabeth Connor, Giovanni Antonio Bazzi, Jesus Christ, Leonardo da Vinci, Michelangelo, On Spiritual Friendship, shaman, St Aelred of Rievaulx, St John, St Sebastian, The David, The Last Supper, The Mirror of Charity, third gender, Venezia
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Just a few days ago, the High Court handed down a decision in Williams v Commonwealth of Australia [2012] HCA 23 in which the Commonwealth government’s school chaplaincy program was found to be invalid because the funding of it was beyond the power conferred by s 61 of the Constitution. However, the chaplaincy program was [...]
By Legal Eagle
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Posted in Law, Politics, Religion, Restitution
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Tagged chaplaincy program, chaplains, constitutional law, failure of consideration, National School Chaplaincy Program, Restitution, Ron Williams, s 116 of the Constitution, s 61 of the Constitution, ultra vires, unjust enrichment, Williams v Commonwealth
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Comedian Jimmy Carr says he has “made a terrible error of judgement” over using a tax avoidance scheme. In a statement on his Twitter account, Mr Carr said he was no longer involved in the K2 tax shelter. Prime Minister David Cameron on Wednesday called Mr Carr’s use of the scheme “morally wrong”. The tax [...]
This is a guest post by Steven Horwitz which was originally posted at Critical Thinking Applied but which Dr Horwitz has kindly agreed to be also posted here. Dr. Horwitz is the Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary [...]
By Lorenzo
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Posted in Economics, Guest Post, History
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Tagged Austrian business cycle, Austrian school, Carl Menger, central banks, Great Depression, James Buchanan, Jean-Baptiste Say, John Maynard Keynes, money, Peter Lewin, Say's Law, Steve Horwitz
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