Posts by Harold James

When an economic bailout gets political, all bets are off. Look what happened when the German banking system melted down during the Weimar Republic in 1931.

Twentieth-century economic history generated two great bogeymen: the Great Inflation and the Great Depression. The memory of both continues to haunt policy-makers.
Only a few years ago, the talk was about the dangers of a world trapped in deflation by the addition of ever more efficient producers in the poor economies of Latin America and Asia.
Today, [...]