Archive for Market Monetarism
Potpourri
==> Redmond and I talk about all kinds of stuff for a good hour. This is actually “new” stuff if you are bored out of your mind at work and want to have this going in the background… ==> The Center for American Progress recycles my backside. ==> My brother sends this compilation of impressions. […]
Read moreSumner Courageously Admits He Can’t Explain Housing Bubble
I know a lot of you wonder why I am always so quick to volunteer the fact that I made erroneous warnings about official price measures thus far, but the reason is that I can’t stand analysts who make all kinds of predictions, and then only pat themselves on the back for the ones they […]
Read moreDoes Anyone Deny That There Were Unprecedented Credit Stimulus Policies During Hoover Administration?
Here’s something I want to pin down. In my book on the Great Depression, I quote Lionel Robbins saying (I think in 1934) that central banks around the world had tried unprecedented measures to stimulate a recovery through cheap credit, and that this was a complete reversal of traditional central bank doctrine. Then Daniel Kuehn […]
Read morePotpourri
I’m almost giddy for tonight’s Potpourri. I don’t know if I’m in a good mood and see the creativity and courage out there in the blogosphere, or if my blogging peers are all having a good week. In any event, here goes: ==> Paul Krugman recently wrote that the US was doing pretty good during […]
Read moreClarification on Sumner, Congress, and NGDP
It is clear from the comments of my last post that, as usual, people are not fully appreciating the cogency of my analysis. Before diving in, let me make sure the casual reader understands why I’m spending so much time on this guy Scott Sumner, of whom most may never have heard. It’s not that […]
Read moreMore Evidence That Scott Sumner Is Out of Touch
Look kids, I’m as sick of the Sumner-bashing as you are. But it is apparently my duty, since nobody else is catching this stuff. If not me, who? First of all, remember back when Garett Jones was talking about sticky prices and how he thought debt was a really good candidate for this? Then Sumner […]
Read moreThere’s Really Been a Lot of Real Shocks to the Economy
The venerable von Pepe sends me a good post by Larry White, who isn’t as sure as many of his colleagues that the world economy today is primarily troubled by inadequate demand: Scott Sumner told us in September 2009 that “the real problem was nominal,” that is, the recession and its high unemployment were primarily […]
Read moreThe Fatal Conceit
[UPDATE below.] The title of this post refers, of course, to Hayek’s warning about really smart guys thinking they understand a complex system well enough to start tinkering with it. Nick Rowe has had the generosity (and intrepidity) to hang out in the comments of my post criticizing his optimism over QE3. He told me […]
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