Well, since my main readers(?) are from English-speaking countries, I think I'll have to switch the language of this blog from time to time. So this is gonna be my first post in English.
Let's start with what I'm doing now: a thesis project to submit to a PhD programm. I'm thinking of writing something about credit cycles, but I'm not sure what could be my main question. There are MANY questions around this theme, not only related to business cycles but also to regulatory issues, like the countercyclical capital buffer introduced in Basel III. So this is driving me crazy once the deadlines are comming closer and closer and if I don't show up here... well, you know where 'll be: in the library. If anyone wants to suggest something I'll be thankful.
Now let's cut the bullshit about me and start with the bullshit - or not - about Economics: Bastiat and his sarcastic way of criticizing protectionism. This is his most famous "sophism" and it is just hilarious. He starts with the announcement of a great terror for the domestic industry: a new foreign competitor, who has extremely competitive advantages and is stealing the market of lighting from the domestic industry. So they claim for an immediate and urgent solution from "above" - the government or, best said, papa. And who happens to be the bloody invader? ...
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