Category Archives: Economics

TRIED AND TRUE POLICIES. I do feel somewhat boastful that I was right when I said on March 18, 2008, some six months before the Lehman bankruptcy, that what the central bank had to do in a liquidity crisis was … Continue reading →

LOOKING BACK AT THE QUESTION: “WHAT WOULD KEYNES DO”? The caption for my post on December 3, 2008 (less than three months after the Lehman bankruptcy) was “WHAT WOULD KEYNES DO”? The first sentence was: “Kids, in times of financial … Continue reading →

A JUXTAPOSITION. I juxtaposed my post of March 8, 2019 in which I quoted Professor Krugman: ““The end result was that policy moved quickly and fairly effectively to rescue banks, then turned its back on mass unemployment.”and my post of … Continue reading →

PROFESSOR KRUGMAN ON FISCAL POLICY DURING THE TEN YEARS AFTER THE LEHMAN BANKRUPTCY. On September 12, 2018, Paul Krugman reviewed the ten years after the Lehman bankruptcy in this column entitled “Botching the Great Recession”. Krugman says that economic policies … Continue reading →

AGAINST AUSTERITY (COMMENTS). In the last week Nick has commented twice about the economic policy of the last ten years. On March 1, 2019, he wrote: “The danger of the half measure, however, of bailing out the banks but then … Continue reading →

WHEN BERNANKE DID NOT FOLLOW BAGEHOT. Paul Collier reviewed Tooze’s book and several other books on the financial crisis in the TLS (November 16, 2018). One of the books he reviewed was THE FED AND LEHMAN BROTHERS by Laurence Ball. … Continue reading →

WALTER BAGEHOT’S ADVICE TO CENTRAL BANKERS FROM 1873. Before the Lehman bankruptcy there was a bailout of another investment bank, Bear Stearns. On March 17, 2008, six months before the Lehman bankruptcy, I posted here about Walter Bagehot’s advice to … Continue reading →

TOOZE ON THE LEHMAN BANKRUPTCY—PAGE 177. I began Tooze’s book by looking at his treatment of certain facets of the financial crisis that have interested me. Begin with the Lehman bankruptcy in September 1968. I posted here on the dramatic … Continue reading →