House of Debt: Debt and Bubbles (Chapter 8)

8: Debt and Bubbles Charles P. Kindleberger was a giant in economics. He joined the economics department at MIT in 1948, but not as a freshly minted PhD. Instead, his academic career was preceded by close connections to policy making. He had served as a major in the U.S. Army, worked as an economist in …

Eric Tymoigne: How real money works

Monetary instruments are securities. As such, they have a term to maturity (instantaneous) and an issuer—often a central bank or private banks—that promises to pay the bearer the full face value. Gold coins are a collateralized form of such security. Paper, cheap metal, and electronic entries are the forms such securities take today. The characteristics …

Joseph Stiglitz on writting

I have to say there is another factor which is I enjoy[ed] writting. It's a lot of work but sitting down and trying to put on paper your ideas and fine hone them and then polish them. It's something that gives me a lot of pleasure. So, I don't want to deny the fact that …