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And what I take from this is that we don’t get to choose whether or not there is an ending. We only get to choose what kind of ending we have, and therefore what we have left to build from. ....
New evidence is transforming the way we look at long-term trends in economic inequality. This column reconstructs wealth inequality in the German area over five centuries. The significant declines in inequality triggered by the Black Death and again by the Thirty Years’ War of 1618–1648 and the plague that followed provide strong support for the potential levelling effects of ....
Bubbling Brews and Broomsticks Now, briefly consider the aforementioned points outside the economic benefits: women, single or widowed in a time when being husbandless was considered taboo, working over a hot, black cauldron while young children gathered and collected her ingredients. The woman toiled over her bubbling brew, a thick mixture of natural ingredients that, after fermentation, would eventually create a drink that could cause any man to lose total control if he overindulged. Such a creation sounds more than a little bit like a magical potion, does it not? Added to the fact that women who chose to run alehouses put themselves in a public space, exposing their brewing process to all who came through their doors. Suddenly, there appears to be visual evidence of some sort of magical workshops at least, that was what the Church and male-run guilds claimed by the early modern period. ....
Lucrezia Reichlin, Adair Turner, Michael Woodford The COVID-19 pandemic forces swept away some of the conventional taboos in economic thinking, such as the radical idea of helicopter money (Benigno and Nisticò 2020, Cukierman 2020, Galì 2020, Yashiv 2020, Kapoor and Buiter 2020, Velasco et al. 2020). The term uses the fanciful imagery that was originally invented by Milton Friedman (1968). Since the end of the 1990s, Friedman’s idea has received more attention in academia and policy circles. Precedents to the unprecedented But what we today refer to as ‘unprecedented’ monetary policies can often have historical precedents (Ugolini 2020). In a recent paper (Goodhart et al. 2021), we wonder whether the economic policy implemented during the years 1629-1631, when the Republic of Venice fought first a famine and then a pandemic, can be considered an historical case of helicopter money. In its relationship with the role of the state, money circulation and banking, ....