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	<title>berfrois &#187; Economics</title>
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	<link>http://www.berfrois.com</link>
	<description>Intellectual Jousting in the Republic of Letters</description>
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		<title>Germany is not poor, but many Germans are&#8230;</title>
		<link>http://www.berfrois.com/2013/04/germany-is-not-poor-but-many-germans-are/</link>
		<comments>http://www.berfrois.com/2013/04/germany-is-not-poor-but-many-germans-are/#comments</comments>
		<pubDate>Fri, 26 Apr 2013 08:00:08 +0000</pubDate>
		<dc:creator>editor-5</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Eurozone Crisis]]></category>
		<category><![CDATA[Germany]]></category>
		<category><![CDATA[Southern Europe]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=33968</guid>
		<description><![CDATA[Europa regina, Sebastian Munster, 1570 by Paul De Grauwe and Yuemei Ji A recent ECB household-wealth survey was interpreted by the media as evidence that poor Germans shouldn’t have to pay for southern Europe. This column takes a look at the numbers. Whilst it’s true that median German households are poor compared to their southern European counterparts, Germany itself is ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2013/04/germany-is-not-poor-but-many-germans-are/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>‘While racial segregation decreased, economic segregation increased’</title>
		<link>http://www.berfrois.com/2013/02/%e2%80%98while-racial-segregation-decreased-economic-segregation-increased%e2%80%99/</link>
		<comments>http://www.berfrois.com/2013/02/%e2%80%98while-racial-segregation-decreased-economic-segregation-increased%e2%80%99/#comments</comments>
		<pubDate>Wed, 20 Feb 2013 07:02:41 +0000</pubDate>
		<dc:creator>editor-5</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Joseph Stiglitz]]></category>
		<category><![CDATA[Wealth Divide]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=32588</guid>
		<description><![CDATA[]]></description>
		<wfw:commentRss>http://www.berfrois.com/2013/02/%e2%80%98while-racial-segregation-decreased-economic-segregation-increased%e2%80%99/feed/</wfw:commentRss>
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		<item>
		<title>Why did the capitalist counter-revolution of the late 20th century prove to be so successful?</title>
		<link>http://www.berfrois.com/2013/01/capitalist-counter-revolution-so-successful/</link>
		<comments>http://www.berfrois.com/2013/01/capitalist-counter-revolution-so-successful/#comments</comments>
		<pubDate>Thu, 31 Jan 2013 08:03:23 +0000</pubDate>
		<dc:creator>editor-5</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Capitalism]]></category>
		<category><![CDATA[Counter-Revolution]]></category>
		<category><![CDATA[History]]></category>
		<category><![CDATA[Working Class]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=32056</guid>
		<description><![CDATA[Monument to Labour, Constantin Meunier, Brussels. Photograph by Hannes De Geest From New Left Review: While there are a number of plausible labels that might be attached to the 20th century, in terms of social history it was clearly the age of the working class. For the first time, working people who lacked property became a major and sustained political ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2013/01/capitalist-counter-revolution-so-successful/feed/</wfw:commentRss>
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		<title>A Recipe for Oppression</title>
		<link>http://www.berfrois.com/2013/01/a-recipe-for-oppression/</link>
		<comments>http://www.berfrois.com/2013/01/a-recipe-for-oppression/#comments</comments>
		<pubDate>Tue, 08 Jan 2013 08:01:46 +0000</pubDate>
		<dc:creator>editor-4</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Britain]]></category>
		<category><![CDATA[Richard Murphy]]></category>
		<category><![CDATA[Social Justice]]></category>
		<category><![CDATA[Tax]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=31489</guid>
		<description><![CDATA[The Simpsons, Fox Broadcasting Company by Richard Murphy I said I would make no predictions for 2013. A few hours in and the weight of evidence makes me change my mind. In 2013 we will see political prevarication in defence of the status quo come to the fore, and government become gridlocked by indecision as the might of those with financial power is ]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Austerity policies pursued by EU countries over the recent past have had perverse and damaging effects&#8230;</title>
		<link>http://www.berfrois.com/2012/12/austerity-policies-pursued-damaging-effects/</link>
		<comments>http://www.berfrois.com/2012/12/austerity-policies-pursued-damaging-effects/#comments</comments>
		<pubDate>Mon, 03 Dec 2012 08:00:31 +0000</pubDate>
		<dc:creator>editor-4</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Macroeconomics]]></category>
		<category><![CDATA[The EU]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=30710</guid>
		<description><![CDATA[On the Pauper&#8217;s Bench, Francois Bonvin, 1864 by Dawn Holland and Jonathan Portes EU governments have individually embraced severe austerity programmes in an effort to avoid becoming the next Portugal. This column presents results from the National Institute Global Econometric Model suggesting that these individually rational polices are leading to collective folly. Keynes’ &#8216;paradox of thrift&#8217; is in full swing ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2012/12/austerity-policies-pursued-damaging-effects/feed/</wfw:commentRss>
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		</item>
		<item>
		<title>‘Adam Smith occasionally attacks the capitalists’</title>
		<link>http://www.berfrois.com/2012/09/marx-proudhon/</link>
		<comments>http://www.berfrois.com/2012/09/marx-proudhon/#comments</comments>
		<pubDate>Fri, 14 Sep 2012 07:58:40 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Adam Smith]]></category>
		<category><![CDATA[Karl marx]]></category>
		<category><![CDATA[Marxism]]></category>
		<category><![CDATA[Pierre-Joseph Proudhon]]></category>
		<category><![CDATA[Property]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=28673</guid>
		<description><![CDATA[Portrait of Pierre Joseph Proudhon, Gustave Courbet, 1865 by Karl Marx Just as the first critical moves in every science are necessarily entangled in the assumptions of the science which they are intending to combat, so Proudhon&#8217;s work Qu&#8217;est ce que la propriété? is a criticism of political economy from the standpoint of political economy. Since the criticism of political ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2012/09/marx-proudhon/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Email Trail of a Crisis</title>
		<link>http://www.berfrois.com/2012/08/email-trail-of-a-crisis/</link>
		<comments>http://www.berfrois.com/2012/08/email-trail-of-a-crisis/#comments</comments>
		<pubDate>Tue, 28 Aug 2012 08:00:17 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[2008 Financial Crisis]]></category>
		<category><![CDATA[Emails]]></category>
		<category><![CDATA[Insider Deals]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=28175</guid>
		<description><![CDATA[New York Stock Exchange. Photograph by Mario Tama/Getty Images by Jesse Eisinger and Jake Bernstein As ProPublica has been detailing for two years, Wall Street banks and the hedge fund Magnetar worked together to build mortgage-backed deals that the hedge fund also bet against. The more than $40 billion of deals helped fuel the crash of 2008. Now, recently collected emails ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2012/08/email-trail-of-a-crisis/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
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		<title>Exactly Backwards</title>
		<link>http://www.berfrois.com/2012/08/exactly-backwards/</link>
		<comments>http://www.berfrois.com/2012/08/exactly-backwards/#comments</comments>
		<pubDate>Mon, 27 Aug 2012 08:00:18 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Austerity]]></category>
		<category><![CDATA[Jeffrey Frankel]]></category>
		<category><![CDATA[Macroeconomics]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=28108</guid>
		<description><![CDATA[Small White Pebble Circles, Richard Long, 1987 by Jeffrey Frankel The world is seized by a debate between fiscal austerity and fiscal stimulus. Opponents of austerity worry about contractionary effects on the economy. Opponents of stimulus worry about indebtedness and moral hazard (see Corsetti 2012). Is austerity good or bad? It is as foolish to debate this proposition as it ]]></description>
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		<title>‘The Eurozone has arrived at a historic crossroads’</title>
		<link>http://www.berfrois.com/2012/08/eurozone-at-a-historic-crossroads/</link>
		<comments>http://www.berfrois.com/2012/08/eurozone-at-a-historic-crossroads/#comments</comments>
		<pubDate>Tue, 14 Aug 2012 08:00:16 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[2008 Financial Crisis]]></category>
		<category><![CDATA[Euro Crisis]]></category>
		<category><![CDATA[Eurozone]]></category>
		<category><![CDATA[Macroeconomics]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=27700</guid>
		<description><![CDATA[From New Left Review: Why has the Eurozone emerged as the new epicentre of the global financial crisis, when its origins—the famous subprime mortgages—were American? And why, within Europe, has Greece proved to be the weak link? The starting point for any adequate answer is the recognition that what we have been experiencing for the last five years, since the ]]></description>
		<wfw:commentRss>http://www.berfrois.com/2012/08/eurozone-at-a-historic-crossroads/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Free Market Power Put on Ice</title>
		<link>http://www.berfrois.com/2012/08/free-market-power-put-on-ice/</link>
		<comments>http://www.berfrois.com/2012/08/free-market-power-put-on-ice/#comments</comments>
		<pubDate>Sat, 11 Aug 2012 08:00:34 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[America]]></category>
		<category><![CDATA[Blackouts]]></category>
		<category><![CDATA[Engery]]></category>
		<category><![CDATA[Environment]]></category>
		<category><![CDATA[Gregory Jusdanis]]></category>
		<category><![CDATA[Politics]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=27656</guid>
		<description><![CDATA[by Gregory Jusdanis I got a new lesson on the force of narrative during the blackout that affected much of the mid-west and east coast in early July. It was the third time our own neighborhood had experienced an extended power outage in four years. This time, however, the temperatures soared to the 100F mark for eight powerless days. In ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Capitalism may yet weather climate change&#8230;</title>
		<link>http://www.berfrois.com/2012/08/capitalism-may-weather-climate-change/</link>
		<comments>http://www.berfrois.com/2012/08/capitalism-may-weather-climate-change/#comments</comments>
		<pubDate>Fri, 10 Aug 2012 08:00:30 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Capitalism]]></category>
		<category><![CDATA[Climate Change]]></category>
		<category><![CDATA[Enviornmental Economics]]></category>
		<category><![CDATA[Environment]]></category>
		<category><![CDATA[Peter Newell]]></category>
		<category><![CDATA[Review]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=27655</guid>
		<description><![CDATA[Paulo Afonso Hydroelectric Powerplant in the State of Bahia, Brazil by David L. Levy Climate Capitalism: Global Warming and the Transformation of the Global Economy, by Peter Newell and Matthew Paterson, Cambridge: Cambridge University Press, 222 pp. Can capitalism effectively respond to climate change? This is the timely and critically important question posed by Peter Newell and Matthew Paterson at ]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Rethunk</title>
		<link>http://www.berfrois.com/2012/08/rethunk/</link>
		<comments>http://www.berfrois.com/2012/08/rethunk/#comments</comments>
		<pubDate>Wed, 08 Aug 2012 08:02:17 +0000</pubDate>
		<dc:creator>editor-3</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Matt Taibbi]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=27574</guid>
		<description><![CDATA[]]></description>
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		<title>‘Hirelings wandering round Europe’</title>
		<link>http://www.berfrois.com/2012/06/hirelings-wandering-round-europe/</link>
		<comments>http://www.berfrois.com/2012/06/hirelings-wandering-round-europe/#comments</comments>
		<pubDate>Wed, 06 Jun 2012 08:00:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Angel Ferrero]]></category>
		<category><![CDATA[Cities]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Eurozone Crisis]]></category>
		<category><![CDATA[Gentrification]]></category>
		<category><![CDATA[Migration]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=25812</guid>
		<description><![CDATA[Wladimir Klitschko and Jean-Marc Mormeck in the WBA-IBF Heavyweight titles, Düsseldorf, March 2012 by Àngel Ferrero In the amorality of capitalism, the alternatives for an emigrant are virtually reduced to cynicism or melancholy. Cigarette smoke snuck into clothes and wreathed tables, chairs, and walls of the bar in Neukölln, Berlin’s old working-class neighbourhood, now home to many of the city’s ]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>‘Money never gets tired’</title>
		<link>http://www.berfrois.com/2012/05/money-never-gets-tired/</link>
		<comments>http://www.berfrois.com/2012/05/money-never-gets-tired/#comments</comments>
		<pubDate>Mon, 21 May 2012 08:00:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Financial Reform]]></category>
		<category><![CDATA[Matt Taibbi]]></category>
		<category><![CDATA[Wall Street]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=25357</guid>
		<description><![CDATA[Barney Dodd and Chris Frank From Rolling Stone: The giant reform bill turned out to be like the fish reeled in by Hemingway&#8217;s Old Man – no sooner caught than set upon by sharks that strip it to nothing long before it ever reaches the shore. In a furious below-the-radar effort at gutting the law – roundly despised by Washington&#8217;s ]]></description>
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		<title>‘What is needed is a theory of distribution’</title>
		<link>http://www.berfrois.com/2012/04/theory-of-distribution/</link>
		<comments>http://www.berfrois.com/2012/04/theory-of-distribution/#comments</comments>
		<pubDate>Tue, 24 Apr 2012 08:00:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[#Occupy Protests]]></category>
		<category><![CDATA[Inequality]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Redistribution]]></category>
		<category><![CDATA[Review]]></category>
		<category><![CDATA[Wealth]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=24450</guid>
		<description><![CDATA[Liberty Plaza, November 2011. Photograph by Sasha Kimel From Monthly Review: In the early 1980s, I began telling my students that growing inequality of income and wealth would become the dominant political issue of the future. I did not think that the future meant thirty years, but better late than never. The Occupy Wall Street (OWS) uprising has put inequality ]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Financial repression measures seen thus far are but the tip of a very large iceberg&#8230;</title>
		<link>http://www.berfrois.com/2012/04/financial-repression-measures/</link>
		<comments>http://www.berfrois.com/2012/04/financial-repression-measures/#comments</comments>
		<pubDate>Tue, 17 Apr 2012 08:02:54 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Carmen Reinhart]]></category>
		<category><![CDATA[Financial Repression]]></category>
		<category><![CDATA[Macroeconomics]]></category>
		<category><![CDATA[Recession]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=24246</guid>
		<description><![CDATA[The Five Pound Note Office, Bank of England, 1841 by Jacob Funk Kirkegaard and Carmen M Reinhart In light of the record or near-record levels of public and private debt, debt-reduction strategies are likely to remain at the forefront of policy discussions in most of the advanced economies for the foreseeable future (Reinhart and Sbrancia 2011). Throughout history, debt-to-GDP ratios ]]></description>
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		<title>CAPITALISM</title>
		<link>http://www.berfrois.com/2012/03/capitalism-missing-link/</link>
		<comments>http://www.berfrois.com/2012/03/capitalism-missing-link/#comments</comments>
		<pubDate>Tue, 27 Mar 2012 08:00:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Art]]></category>
		<category><![CDATA[Bag Factory]]></category>
		<category><![CDATA[Capitalism]]></category>
		<category><![CDATA[Johannesburg]]></category>
		<category><![CDATA[South Africa]]></category>
		<category><![CDATA[Visual Art]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=23602</guid>
		<description><![CDATA[by Vincent W.J. van Gerven Oei and Jonas Staal Introduction The following two works were produced by visual artist Jonas Staal and writer Vincent W.J. van Gerven Oei during a visit as artists in residence at The Bag Factory, Johannesburg, South Africa during the summer of 2010. Both works were produced in situ and comprised in both cases a public ]]></description>
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		<title>Carl Wennerlind: Credit Alchemy!</title>
		<link>http://www.berfrois.com/2012/03/carl-wennerlind-credit-alchemy/</link>
		<comments>http://www.berfrois.com/2012/03/carl-wennerlind-credit-alchemy/#comments</comments>
		<pubDate>Wed, 14 Mar 2012 08:00:43 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Alchemy]]></category>
		<category><![CDATA[Carl Wennerlind]]></category>
		<category><![CDATA[Credit]]></category>
		<category><![CDATA[Economic History]]></category>
		<category><![CDATA[Financial Revolution]]></category>
		<category><![CDATA[Natural Philosophy]]></category>
		<category><![CDATA[Newton]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=23284</guid>
		<description><![CDATA[by Carl Wennerlind When the philosopher Baruch de Spinoza received word of a successful transmutation of lead into gold in December of 1666, he quickly sought to quell his skepticism by personally visiting the adept, and the visit left him fully convinced of the veracity of the adept’s account. Spinoza was just one of many seventeenth century intellectual luminaries who ]]></description>
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		<slash:comments>1</slash:comments>
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		<title>Hayek’s review of the Treatise in Economica appeared technical in character, but it was politically charged&#8230;</title>
		<link>http://www.berfrois.com/2012/03/hayeks-review-politically-charged/</link>
		<comments>http://www.berfrois.com/2012/03/hayeks-review-politically-charged/#comments</comments>
		<pubDate>Tue, 13 Mar 2012 08:01:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Hayek]]></category>
		<category><![CDATA[Hayek vs. Keynes]]></category>
		<category><![CDATA[Keynes]]></category>
		<category><![CDATA[LSE]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=23240</guid>
		<description><![CDATA[The Theatre, LSE, c.1930. Photograph from LSE Library Collection From The Times Literary Supplement: In London, Robbins had experienced Keynes’s less attractive side. They had both been appointed to the Macmillan Committee on Finance and Industry, which was intended to find answers to the severe economic downturn then under way. Keynes had been a free trader for most of his ]]></description>
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		<title>Michael Schiltz: Yen Blocism</title>
		<link>http://www.berfrois.com/2012/02/schiltz-yen-blocism/</link>
		<comments>http://www.berfrois.com/2012/02/schiltz-yen-blocism/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 08:03:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Main article]]></category>
		<category><![CDATA[Economic History]]></category>
		<category><![CDATA[Macroeconomics]]></category>
		<category><![CDATA[Michael Schiltz]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[Recession]]></category>

		<guid isPermaLink="false">http://www.berfrois.com/?p=21879</guid>
		<description><![CDATA[Bank of Chosen, Seoul by Michael Schiltz We are living through ominous times. In the wake of the 2008 subprime crisis, the world economy has been battered by a series of profound shocks that have not been experienced since the 1930s. A series of shocks, indeed, because, as was the case in the Great Depression, the Great Recession is not ]]></description>
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