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I have written articles, op-eds, and book reviews for many publications, including the New York Times, the New York Review of Books, Wired, the Financial Times, The Observer, The Telegraph, and Reuters; and for several years I wrote an economics column for the New Statesman.

For an archive of my articles, columns, and op-eds, click here

For an archive of my book reviews, meanwhile, click here.

A couple of recent pieces are below.

The Currency of Politics by Stefan Eich

Financial Times |  2 August 2022

2022 is turning out to be the year that puts the politics back into monetary policy.

For 30 years or more, inflation was quiescent – even despite the violent shocks of the tech crash and the global financial crisis. As a result, even the unprecedented monetary policies implemented after 2008 failed to provoke much real controversy.

But this year, things have changed. With inflation topping 9 per cent in the UK and US, the questions of when and by how much interest rates should rise – and who will be the winners and losers when they do – are back at the top of the political agenda.

That is just the start.  Public satisfaction with the Bank of England’s performance hit the lowest on record last month.  Liz Truss, the leading candidate to the UK’s next Prime Minister, has taken note, and pledged to review the central bank’s mandate.  The once sacrosanct idea of monetary policy independence is now explicitly under threat.

How should we evaluate these radical developments?  Stefan Eich’s new book provides a splendidly clear framework: you can read my review of it for the Financial Times here.

The Price of Time by Edward Chancellor

Reuters Breakingviews |  8 July 2022

Edward Chancellor’s erudition, expertise, and wit are no secrets to readers of his Breakingviews columns.  Some of you may not be aware, however, that he also has an eerie sense of timing.

In 1999 he published Devil Take the Hindmost, his superlative history of speculative manias.  Within a year, the dot-com bubble had burst.  His next book, published in 2005, prophesied that it was Crunch Time for Credit. Eighteen months later, the biggest banking crisis in history had begun.  Now, Chancellor has given us The Price of Time, a blistering polemic against the evils of artificially low interest rates. Right on cue, the gravy train of ultra-loose monetary policy has come to a halt.

Perhaps you should therefore not just buy this book but sell all your stocks.

In The Price of Time, Chancellor addresses the biggest economic question of the past fifteen years. Have the experimental monetary policies pursued by the world’s leading central banks since the financial crisis of 2007 and 2008 been a miracle cure or an epochal mistake?

You can find out what his answer is in my review for Reuters Breakinviews here.