Kiel Institute in the News

Life’s Certainties: Death, Taxes and Bailouts

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Commentary by Niall Ferguson and Moritz Schularick

Benjamin Franklin famously observed that nothing is certain in life except death and taxes. If he were around today he’d be tempted to add one more to the list: bailouts. The recent collapse of Silicon Valley Bank—a midsize institution at best with 17 branches in California and Massachusetts and $175 billion in total deposits—followed an all-too-familiar script of panic and rushed government intervention. ...

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