Alejandro A. Chafuen

Dr. Alejandro A. Chafuen is president of the Atlas Economic Research Foundation.

Spanish Free-Market Pioneers

grice hutchinson

Marjorie Grice-Hutchinson (1908-2003) played an important role in bringing attention to the contributions to economics of late medieval Spanish scholars, particularly the “School of Salamanca.” In Early Economic Thought in Spain, 1177-1740, first published in 1978 and out in a handsome new edition from the Liberty Fund, she delves also into the ideas and the writers that preceded and succeeded the Salamancan scholars. Grice-Hutchinson studied in London at King’s College, at Birkbeck College, and then at the London School of Economics, where she conducted research under F.A. Hayek, one of her most influential teachers. She moved to Málaga in 1951 after marrying Baron…

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Easy Money and Vanishing Trust

When the Money

The key message of Stephen King’s book is that “we” have been living beyond our means. In his words: “We became delusional. We convinced ourselves that capital markets could deliver ever rising prosperity. We thought we could borrow without limit, always confident that the future would be better than the past.” And not for one moment, he adds, “did we think we would ever succumb to Japanese-style economic stagnation or Argentine-style broken promises.” King emphasizes that we are all in the same boat, and that we were all wrong. It is fair to say, however, that some raised a voice of…

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