Posted August 4, 2009 - 05:00 by Philip Brewer
I got a notice from one of my credit cards a bit ago, announcing that they were raising the interest rate. It's only of theoretical interest to me, of course--I use credit cards for transactions, not to borrow money--but looking at the rate they're charging reminded me that there are really three interest rates.
Posted May 28, 2009 - 07:10 by Philip Brewer
Having a prosperous country (as opposed to having merely a prosperous elite) depends fundamentally on the rule of law. The system can work adequately well with various sets of rules, as long as they're known in advance and fairly applied. During hard times, though, there's a strong temptation to ignore the rules in a search for a less-bad result. Both borrowers and lenders need to watch out.
Posted January 20, 2009 - 01:56 by Philip Brewer
Any institution that wants to fund mortgages has a problem. They want to lend the money out for thirty years, but the money they have to lend comes from deposits that can be withdrawn by the depositors at any time. Banks have come up with three bad ways to work around that problem. It turns out, though, that the Danes have come up with what may be a good way.
Posted October 22, 2008 - 06:37 by Philip Brewer
How much money is there in the economy to borrow? Well, if you don't have foreigners lending you large amounts of money, and you don't have central banks creating large amounts of money, then the amount of money available to be borrowed each year is roughly equal to the amount of money saved.
Posted June 27, 2008 - 07:25 by Philip Brewer
Suppose you and your friends all want to start small businesses. You've all got money coming in, you're all in a position to save up some capital, but it would take you a year to all save up enough--and you'd rather not wait. There's a solution to this problem that's so obvious its been reinvented all over the world.
Posted February 24, 2008 - 15:50 by Xin Lu
I think most of us have been asked to lend money to someone we know. No matter how close you are with the potential borrower, there are certain situations when you just have to say no. Here are some of the times I think you should absolutely keep your money for the sake of your relationship with the other person and the well being of both parties.
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