On the money

Quantitative easing is often described as \’printing money\’.  But that statement is incorrect and portrays a misunderstanding of what QE really is.

Digital disruption: Peer-to-peer

Platforms that connect household borrowers to household lenders will soon push banks aside.  The only reason capital still flows through banks from savers to lenders in 2015 is because the banks have a historic monopoly.  As soon as new platforms can be created to directly connect households to households, then borrowers will pay lower interest […]

Irrational exuberance

Now is a good time to remember the lessons of history about growth shares versus value shares.