counterfeit Archives - Emile Woolf writes


ECONOMIC PERSPECTIVES – 87   SEPTEMBER 2020 The tenacity with which certain economic fallacies persist is truly remarkable. Take the notion that the euro currency is too strong for certain countries, notably Greece, Spain, Portugal and Italy, causing their exports to be too expensive for foreign buyers; and being members of the eurozone they are […]

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“Funny-money” and the Cantillon Effect

THOUGHTS ON “LEGAL TENDER” AND GAMES OF PRETENCE Economic Perspectives 54 – April 2019 Few people understand the purpose of so-called “legal tender”. It is widely believed that the government’s legal tender laws protect citizens’ money by formally designating it as the official medium for the settlement of transactions. The Latin root is “tendere”, to […]

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Economic law prevails: why the Euro has to fail

“Eurovision” is more than a song contest. The term also captures the aspirations of a coterie of politicians determined to complete the transformation of common market principles into their grand vision: United States of Europe. Promoting harmony on a continent with a war-torn history is laudable, but it does not demand an irreversible commitment to […]

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