For years we’ve been saying that Keynesianism has run its course because central bankers pushed nominal interest rates down to zero and still economies sputtered. Well, now nominal interest rates in major European countries—including Denmark, Sweden, Switzerland, and Germany—are actually negative.
The IBI Board of Directors consisting of Carlos Lara, Robert Murphy, David Stearns, and, begrudgingly Nelson Nash, voted unanimously to rename the institute. We made the initial announcement at the annual IBC Practitioners Think Tank held last week. The institute’s new logo is based on the flame of knowledge, and integrates the letter “N”. With the change, we codified our mission and vision statements.