Miscellaneous Wordsmith Miscellaneous Wordsmith

Why QE is not a good idea

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For much of the last decade, the bubble in equity markets was sustained by what was known on Wall Street as the 'Greenspan put'. Put simply, the rule stated that it was perfectly safe to invest in equities, since if they fell, former Fed chairman Alan Greenspan would always wade into the markets with a series of interest-rate cuts to bail them out. Now we have something that looks like a QE put – when markets collapse, central bankers will print more and more money until they get them moving again.

Matthew Lynn, Central Bankers are Just Blowing up Another Investment Bubble, MoneyWeek

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Miscellaneous Wordsmith Miscellaneous Wordsmith

Free speech and press

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The freedom of speech and the freedom of the press have not been granted to the people in order that they may say things which please, and which are based upon accepted thought, but the right to say the things which displease, the right to say the things which convey the new and yet unexpected thoughts, the right to say things, even though they do a wrong.

Samuel Gompers, Seventy Years of Life and Labor, 1925

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Miscellaneous admin Miscellaneous admin

Internet Explorer 8

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It seems that the ASI website is not displaying properly for Windows users who have upgraded to Internet Explorer 8. With a bit of luck, we'll be able to sort that out over the next few weeks, but apologies for any inconvenience in the meantime. The website is still displaying properly in Safari, Firefox, Google Chrome, and Opera – all of which are available for free download by following the links.

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Miscellaneous James Freeland Miscellaneous James Freeland

James Freeland joins the ASI

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I am delighted to have the opportunity to be able to experience a think tank as prestigious as the Adam Smith Institute for two weeks. I have completed A Levels in History, Maths and English Literature and have an offer from Brasenose College, Oxford to study Philosophy, Politics and Economics next year. Whilst I have not formally studied any of the three disciplines yet,  I have enjoyed reading about British Political History, Constitutional Theory and of course Competition and Free Markets!

I am particularly interested in how free-market theories can be applied practically to facilitate an effective recovery from the current recession, and improve the currently inefficient provision of public services. Something I feel  particularly strongly is that educational reforms under the current government have failed to advance opportunity or decrease inequality sufficiently. Furthermore, there are serious implications to the fact that, regardless of the reality, qualifications are constantly being devalued in the minds of the public and employers. The constant creeping infringement of civil liberties is something that also concerns me. Thankfully ID cards have for the moment been undermined and will not be compulsory, but the advent of  increasingly complex technology means that we must be vigilant about the nature of information stored about us and how it is used.

In my spare time, I enjoy casual games of tennis and golf, and travel whenever possible.

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