Governance & Regulation Archives - Emile Woolf writes

Human rights and government action [GP 17-12-18 & EP 46]

  HUMAN RIGHTS & GOVERNMENT ACTION In many of these essays on economics I have been at pains to point out that the prosperity of any community, anywhere, anytime, if it is to last, must be based on observance of the guiding principles of free people; free trade; sound money; and small government. Colleagues sometimes […]

Read More…

“What Government can – and cannot – do” [EP 43]

EMILE WOOLF – GOING POSTAL [19-11-2018 – EP43] “DEBUNKING ECONOMIC MYTHOLOGY – PART 6” “WHAT GOVERNMENT CAN – AND CANNOT – DO” Whenever confronting a puzzling situation, it’s worth asking how it came about. When doing this I usually find it helpful to write about it and, given my personal orientation, my way through the […]

Read More…

Reaping the Whirlwind – lessons of 2008 and the rich/poor divide

ECONOMIC PERSPECTIVES – 39 REAPING THE WHIRLWIND My wife and I have just returned from a couple of weeks in the USA. Among many sources of stimulation, debate between friends and family threw up a number of key issues of economic interest – two in particular stand out, and they are closely related: (i) Whether […]

Read More…

Economic Perspectives 35 (Part two) – the Scourge of Credit Expansion

GOING POSTAL 20/8/18 [Part 1 of “This time it will be different” appeared as Going Postal last week.] PART 2 THE SCOURGE OF CREDIT EXPANSION – THE SYSTEM’S DEMISE COULD BE SOONER THAN YOU THINK The monetary conjuring trick employed after the last crisis, described in Part 1, required central banks to purchase government bonds […]

Read More…

Reading the signs of the coming crash

1 – THIS TIME IT WILL BE DIFFERENT – Yes, far worse! [ECONOMIC PERSPECTIVES – 35] The last crash 2007/2008 Before the last financial crisis in 2007/2008 sub-prime mortgages were all the rage. The idea was that if mortgage lenders put a pot-pourri of mortgages in a parcel, the risks attaching to mortgages at the […]

Read More…

Economic Perspectives: EU Membership – understanding the rules

EU MEMBERSHIP – UNDERSTANDING THE RULES While combatants wrestle over potential outcomes of the Brexit debate, we should recognise the part played in all these shenanigans by fear, borne of uncertainty. Many warnings against the dire consequences of leaving the EU have an emotional flavour not rooted in economic logic, while some Brexiteers counter such […]

Read More…

Understanding Economics 4 – Interest rates

Let’s look more closely at the role of interest rates Money is one of many forms in which wealth may be held, but money and wealth are not synonymous. Wealth is the accumulation of savings. Savings, in a business, are what is left after meeting all its direct and indirect costs, depreciation, distributions to the […]

Read More…

“Grasping the nettle: now or never for auditors!”

JUNE 2018 – “ACCOUNTANCY” GRASPING THE NETTLE – IT’S NOW OR NEVER FOR AUDITORS It has descended into predictable farce. Every time a corporate reporting clanger is dropped and auditors of a public company are mired in yet another scandal, the Financial Reporting Council responds by undertaking to investigate the accounts and audit of the […]

Read More…