Economics

“Clientelism is the essence of social protection” –Edmund Phelps

James Rickards: After «Currency Wars» Comes «The Death of Money»

«Prosperity is all about political institutions and politics» –Daron Acemoglu

«We are all making promises that we cannot keep» –Robert Lucas, Jr.

«They have made a blood pact: no bank will collapse» –Niño-Becerra

«Greece and perhaps Portugal need to exit the euro at some point» –Michael Spence

«Default is not the end of the world» –Vernon Smith

«The idea of capitalism is, if you fail, you fail» –Hernando de Soto