We are very pleased to announce the start of our ‘Hayek Library’ project to make it available online and for researchers and visitors. We have a superb history of economic thought library with an excellent collection on Classical Liberal Political Economy. Our thanks to our Library staff for their help with the project.
News
Hayek Essay Competition
Reflect on Hayek’s nobel lecture and discuss how relevant are Hayek’s ideas to explain the world today.
“The particular occasion of this lecture, combined with the chief practical problem which economists have to face today, have made the choice of its topic almost inevitable. On the one hand the still recent establishment of the Nobel Memorial Prize in Economic Science marks a significant step in the process by which, in the opinion of the general public, economics has been conceded some of the dignity and prestige of the physical sciences. On the other hand, the economists are at this moment called upon to say how to extricate the free world from the serious threat of accelerating inflation which, it must be admitted, has been brought about by policies which the majority of economists recommended and even urged governments to pursue. We have indeed at the moment little cause for pride: as a profession we have made a mess of things”. The Pretence of Knowledge (F. A. Hayek, Nobel Lecture, 1974)
Join us for pizza and refreshments at our launch event!
£1000 prize
Contact info@vinsoncentre.con for enquries on how to enter
Please note that the Hayek Essay Competition is only open to University of Buckingham students.
Vinson Centre Director contributes to the debate on inflation
Our director, Juan Castaneda, has been contributing to the debate on inflation and the Bank of England’s policies in recent weeks, advising for a change in their models to assess inflation. Here you’ll find two pieces written with Damian Pudner (Institute of International Monetary Research)
- Article on The Telegraph: ‘The Bank of England cannot go on like this’.
- Article on CityAM: ‘The Bank of England needs to stop rising interest rates to avoid a painful recession’.
Latest issue of Economic Affairs published
We have just published the latest issue of Economic Affairs, the international journal of liberal political economy we publish with the Institute of Economic Affairs, Universidad de las Hesperides, and Universidad Francisco Marroquin. You can access the latest issue at https://onlinelibrary.wiley.com/toc/14680270/current’
Juan Castaneda, publishes a new paper, co-authored with Jose Luis Cendejas
The paper is titled: Revisiting the Quantity Theory of Money: Money Growth, Money Velocity and Inflation in the US, 1948-2021
Abstract:
Leading central banks did not anticipate the surge in inflation in 2021 and 2022. In our paper we assess whether changes in the velocity of money and monetary growth (broadly-defined)explain long term inflation patterns in the US .We use a hundred-year sample to study the long term and the cyclical behaviour of money velocity. We find that changes in the velocity of money are short lived, and revert to its mean. We also characterise the periods where changes in money velocity have kept closer to its mean as those of monetary equilibrium. We use a regime switching model to test for the impact of changes in the amount of money (broadly defined) and in money velocity in inflation over the medium and long term. Our model explains both the non-inflationary outcome of the Global Financial Crisis and the surge in inflation in the aftermath of Covid-19 pandemic
Download:
February 2023 issue of the journal of Economic Affairs published
Event announced: A discussion of the current inflationary episode in the UK
The Vinson Centre’s Director, Juan Castañeda, will be discussing the current inflationary episode in the UK and who to blame for it at the Mises Society (University of Oxford). The talk will be on 24th February at 19:30 pm at Corpus Christi College, Rainolds Room. You can find more details on the event and how to attend here: The 2021-22 Inflation Episode — How Central Banks Did It Again
New paper by Visiting Scholar
Our Visiting Scholar, Rogério Arthmar, has just co-authored a paper titled ‘Physics meets economics: Albert Einstein and Irving Fisher on science, peace, and the Great Depression’. You can access the paper by clicking here.
Vinson Centre announces new Visiting Scholar
We are very pleased to welcome Dr Rogério Arthmar as our Visiting Scholar. Rogério is a CNPq Researcher in the History of Economic Thought in Brazil, and will be involved in a research project on ‘ Sismondi on the British and Swiss conceptions of liberty’ with us. You can learn more about our Visiting Scholars programme and their exclusive access to our library by clicking here.
Latest issue of Economic Affairs available online
Latest issue of Economic Affairs available online (Oct. 2022), the UK journal in the Classical Liberal Political Economy tradition. Published by the Vinson Centre at (University of Buckingham) and the IEA, with the collaboration of Hesperides University and Universidad Francisco Marroquin. You can access the articles online here