, 2014. The cradle of civilization Regime switches (expectations and payoffs)
François Velde: Primer on Bitcoins (December 2013).
Say's law ?
Larry Summers at the IMF (November 15, 2013)
Jean-Baptiste Hollande (Kevin O'Rourke): January 14, 2014
War of attrition between the parliament and the executive in Castile, 1575
(VoxEU: October 21, 2013)
The recent showdown over the US debt ceiling can be thought of as a game of chicken over the repayment of sovereign debt, with potentially severe consequences. This column describes an analogous historical episode in 16th century Spain, in which city delegates in the Cortes resisted tax increases, and Phillip II responded by suspending payments on a portion of the sovereign debt. By the time the cities caved to a doubling of their tax contribution two years later, the resulting bank failures and credit freeze had caused lasting economic damage.
Entertaining (Felix Martin, "Money, the unauthorized biography"), June 7
- Review in the Economist (short and stimulating)
- Review in the Guardian (long, meandering and confusing)