Economics

Archive for Economics

Just a Reminder: You Can Have High Unemployment and Price Inflation Simultaneously

I am working on a C4L rebuttal to this Greg Ip article. But I thought I’d give you guys a sneak peek on one of my points. Ip apparently subscribes to the “we’re all Keynesians now” view when he writes: People and businesses spend when their incomes are growing and they’re confident about the future…If…spending […]

Scott Sumner’s Funeral: A Shovel-Ready Project

Sumner keeps digging himself deeper on this issue of “income is meaningless and pernicious.” To refresh your memory, Scott first advanced this thesis here. Then I criticized his view here. I figured Scott would say, “OK, ya got me, I was just speaking in hyperbole because income taxes drive me bonkers.” But no, Scott doubled […]

Division of Labor, for High Schoolers

OK here is the video of the talk I gave last week on the division of labor at the Mises Institute high school seminar. (Note: The opening jokes are referring to something Mark Thornton did in the prior talk. BTW if someone watches his talk, can you give me the exact time he sets up […]

Yet Another Krugman Kontradiction

[UPDATE below.] I think I may have to christen a “YAKK” category on Free Advice. On October 26, in a post entitled “Do Investors Expect Too Much From Bernanke?”, Krugman had a chart showing how inflation expectations had risen substantially since August, when the market began expecting QE2. This is Krugman’s commentary: Financial markets seem […]

Potpourri

At long last, my crazy traveling schedule is winding down for a few weeks at least. Here are some things of note: * Yesterday I was a guest on Peter Schiff’s radio show. (I think this link takes you right to the interview. Note that you DON’T have to buy membership to Schiff’s site to […]

A Question for the Money Printers

I am being serious with this one, so if you actually know what you are talking about–always a plus–please help me out. We’ve got lots and lots of economists (like Paul Krugman but also Scott Sumner and even Tyler Cowen) who think QE2 might help a little bit, but that it’s not enough to get […]

Gold: The Market’s Global Currency

Here is my Mises Daily about Robert Zoellick’s halfhearted call for a return to gold. Also, the Hillsdale Collegian ran a story on the Krugman debate, though I actually stopped teaching there in 2006 (not 2008 as the article states). Since there are one or more Hillsdale economics professors who read this blog, I want […]

Slate Yesterday, Daily Show Tomorrow?

[UPDATE inserted below.] A few people today have sent me this Slate article that links to one of my old Mises Daily articles. Just when I’m about to give up economics and go full-time into male modeling, they pull me back in… On a more serious note, what’s the story with this guy J.D. Foster […]