Joakim Book

Joakim Book is a writer, researcher and editor on all things money, finance and financial history. He holds a masters degree from the University of Oxford and has been a visiting scholar at the American Institute for Economic Research in 2018 and 2019. His works can be found at joakimbook.com and on the blog Life of an Econ Student.

There Will Be No New Bitcoin Man

A disturbing trend among true believers is to quip that “Bitcoin fixes this,” almost regardless of what the problem may be.

Governments Don’t Have Magic Wands To Ward off Asymmetric Information

The kind of reasoning that underpins the tired old asymmetric information bogeyman in health care falls straight into the behavioral symmetry between market participants and policy makers that is a core contribution of modern public choice economics: it is not believable to submit that governments have magic wands.

Capitalism Did Not Fail; It Can Save Us

Riding out storms and sharing risks across billions of people is a feature, not a bug, and the affluent capitalist nature of our institutions puts us in a better position to deal with them. 

Coronavirus Pandemic Is Not Exponential

Contrary to what almost everyone has said during the last three months – from media talking heads to presidents and epidemiologists and your neighbor – the growth of pandemics is not exponential. The number of people infected and number of dead don’t follow “exponential” curves. They follow S-shaped curves. 

What Sweden Has Done Right on Coronavirus

Contrary to the U.S., where President Trump and Governor Cuomo and countless other political figures compete for the attention of their constituents and populace and underlings, the Swedish experience has been one of decentralized decision-makers and arms-length officials calling the shots.

Capitalism and Free Markets Can Save Nature For Humankind

Instead of succumbing to the eternal alarmism that should undermine ecologists’ credibility, we should accept that maybe – just maybe – the world is getting better. And much-reviled capitalist markets are, in no small feat, to thank for that.

The Purpose of Flying A Nearly Empty Plane

An efficiency-minded environmentalist could object that this trip shouldn’t be made, a Marxist-leaning commentator that this was an example of the horrible waste and misallocation of the capitalist system.

Bitcoin: Best-Performing Asset of the Decade?

Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.

Money and Liquidity

Perhaps the money of the future isn’t some sophisticated crypto token, but a private promise to consume a widely used service. 

Yield Curve Inversions Don’t Improve Investment Outcomes

Ronald Reagan once remarked that the nine most terrifying words in the English language are: "I'm from the government and I'm here to help." Similarly, the financial economist Campbell Harvey recently wrote that the four most dangerous words, feared by central bankers...

Lessons From Free Banking in Scotland

Rothbard does not refute White’s thesis that Scottish banking was less regulated and hence more stable and well-functioning than England’s banking system in the same 145-year period.

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