The Tragedy of the Euro: Difference between revisions
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{{quote|We have heard much about the [[Federal Reserve System|Fed]] but no one talks about the ECB. In my new book ''The Tragedy of the Euro'', I answer this question and analyze the workings of the European monetary system and compare it to the Fed's. A decisive distinction is that in the European monetary system several independent governments may [[Inflation|use the printing press]], i.e., the ECB, in order to finance their deficits. This setup contains explosive incentives. … The main message is that in its current form the system is self-destructive, it is a [[Tragedy of the Commons|tragedy of the commons]].}} | {{quote|We have heard much about the [[Federal Reserve System|Fed]] but no one talks about the ECB. In my new book ''The Tragedy of the Euro'', I answer this question and analyze the workings of the European monetary system and compare it to the Fed's. A decisive distinction is that in the European monetary system several independent governments may [[Inflation|use the printing press]], i.e., the ECB, in order to finance their deficits. This setup contains explosive incentives. … The main message is that in its current form the system is self-destructive, it is a [[Tragedy of the Commons|tragedy of the commons]].}} | ||
==See also== | |||
* [[European sovereign debt crisis (2010–present)]] | |||
==Links== | ==Links== | ||
Revision as of 11:55, 2 June 2011
| The Tragedy of the Euro | |
|---|---|
| Author(s) | Philipp Bagus (Foreword by Jesús Huerta de Soto) |
| Country | United States |
| Subject(s) | Economics, Economic history |
| Genre(s) | Non-fiction |
| Publisher | Ludwig von Mises Institute |
| Publication date | 2010 |
| Media type | Print, Digital |
| Pages | 142 p. |
| ISBN | 9781610161183 |
| OCLC Number | 699513237 |
The Tragedy of the Euro: How Political Interests Created a Self-Destroying System is Philipp Bagus's newest book, exploring the European Central Bank and the economic crisis in the European Union and its currency the Euro. The book is forthcoming from the Ludwig von Mises Institute.
In a Faculty Spotlight Interview with the Mises Blog, Bagus explained the purpose of this work:
We have heard much about the Fed but no one talks about the ECB. In my new book The Tragedy of the Euro, I answer this question and analyze the workings of the European monetary system and compare it to the Fed's. A decisive distinction is that in the European monetary system several independent governments may use the printing press, i.e., the ECB, in order to finance their deficits. This setup contains explosive incentives. … The main message is that in its current form the system is self-destructive, it is a tragedy of the commons.
See also
Links
- Resources page at Mises.org
- Foreword by Jesús Huerta de Soto
- Audio reading by Keith Hocker
- Excerpt "Two Visions for Europe"
- Foreword by Jesús Huerta de Soto
- Articles, essays and reviews
- Cobden Centre review: "The Tragedy of the Euro" by Andy Duncan, February 2011 (excerpted as Mises Daily here)
- The Free Market: "Bagus Gets it Right" (PDF) by Patrick Barron, February 2011 (republished as Mises Daily here)
- "Europe's Tragic Crisis" by David Howden, January 2011
- "The Bailout of Greece and the End of the Euro" by Philipp Bagus, February 2010
- "Bagus Explains the ECB and the Euro" by Jeffrey Tucker, December 2010
- "The Euro Debt Crisis and Economic Theory" by Kel Kelly, February 2011
- "The EU Crackup" by Llewellyn H. Rockwell Jr., April 2011
- "The Eurozone Stimulus Package and Economic Fundamentals" by Frank Shostak, May 2010
- "Is the Euro Forever?" by by Grant M. Nülle, July 2005
- Other media
- Authors Forum: "Tragedy of the Euro & Deep Freeze" lecture by Philipp Bagus, March 2011 (YouTube)
- Cobden Centre Radio: "Philip Bagus Interview" March 2011
- In Studio: "Currency and Economic Collapse" interview with Philipp Bagus, March 2011 (YouTube)