Archive for Market Monetarism
Nick Rowe Has Solved the Mystery of the Great Recession
Relying on a “very important post” from David Beckworth, Nick informs us that the financial crisis of 2008 occurred because people began expecting it in 2005. Call me hard to please, but I want more, Nick.
Read morePotpourri
==> Shawn Ritenour writes a lengthy summary and critique of Market Monetarism. ==> This guy sent me his critique of Gene Callahan and my conversation on Say’s Law. Eh, I’m going to be honest: I was a little annoyed at him using my first name in such a flippant manner, but what really pushed me [...]
Read moreScary Scott Sumner Statements
At this point I think my analysis is superfluous. I just need to quote this guy. If you folks don’t see what I see, I don’t know what my commentary will add. These quotes all come from the same post: ==> “So it’s print money now or print money later. If you really, really don’t [...]
Read moreWhile I Was Bogged Down With Keynesians, Sumner Solidifies His Power Grab
Oh man, have you kids been checking in with Scott Sumner lately? ==> Famous monetary economist Frederic Mishkin has now been seduced by the Dark Side. ==> Sumner thinks the trillion dollar coin is bad for the Democrats politically, but if Obama “ignores my advice and mints the coin anyway, I’ll strongly support the move [...]
Read moreCan Fiscal Austerity Work With Tight Money?
[Disclaimer: Bob Wenzel doesn't like me using the term "fiscal austerity," since he thinks the public associates it with jacking up taxes and cutting social programs in order to bail out bankers. He has a point, but it will just get too cumbersome in this post if I try to come up with some alternate [...]
Read moreDon’t Let Scott Sumner Write the History Books
Despite my title, this is actually a post about Brad DeLong, where I’ve noticed this trend the most. Now despite the recent unpleasantness, I’m not even criticizing DeLong in this post. I’m simply pointing out a rewriting of history that I am watching unfold before my very eyes, and I want to point this out [...]
Read moreAmerica’s Platinum Express
I have a question and a comment: ==> The “trillion dollar coin” thing is just because a billion is too little, and a quadrillion is too much, right? For example, there’s nothing to stop them from using this “option” but doing so by minting, say, 10 coins each with a face value of $100 billion? [...]
Read moreAs Usual, Sumner Ignores Micro
In this post Scott Sumner shows he would make a great talent agent: Back in 2009 I argued that only elite monetary economists should sit on the FOMC. Some of its current members are not even monetary economists, elite or otherwise. They are unqualified people serving in the most important economic policy position on the [...]
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