Market Monetarism

Archive for Market Monetarism

Scott Sumner Is Hot, But Breaks His Own Rule

John Carney is starting to appreciate my fascination with the Bard* from Bentley. Carney reproduces the results a poll apparently suggested by Sumner: I thought we weren’t using the i-word anymore? No wonder Scott’s policy won–I bet it would get more votes than limiting the unicorn population to 8% growth, too. * I’m saying Scott […]

If We Give Up Our Cool, Then the Inflationists Will Have Already Won

UPDATE: Sorry, I forgot to include the money (ha ha) quote, to explain the purpose of Scott’s post. Scott Sumner thinks he can play me like a game of classic Donkey Kong: Some days I want to just shoot myself, like when I read the one millionth comment that easy money will hurt consumers by […]

Failed I Have

I have been warning you guys for a long time now that Scott Sumner was the real guy to watch. Now Christina Romer writes in the NYT–the NYT for crying out loud!–that Ben Bernanke needs to get his Volcker on: Today, inflation is still low, but unemployment is stuck at a painfully high level. And, […]

A Video Trying to Make Nominal GDP Targeting the New Normal

This is pretty good, and has the endorsement of lots of market monetarists (see the comments here). If I were going to make a video to introduce a newcomer to Scott Sumner’s ideas, it would look something like this.

John Carney Smells a Rat, Too

Seeing that I criticized Sumner lo these many years and have lived to tell the (boring) tale, John Carney has lately been launching broadsides against the Brawler from Bentley, here and here. We’ll see if Scott plays bad blogger, good blogger with Carney like he did with Kelly Evans. Evans & Carney, some Free Advice: […]

How Are Sujatha Reddy and Scott Sumner Alike?

Well, neither has been in my living room. But beyond that, they both have far more expertise in their respective fields than I do, and yet I confidently claim that they are being very misleading when they “debunk” conventional wisdom. I’ve already complained about how Scott says that inflation poses no problem at all (or […]

More Frank Talk From DeLong on NGDP Targeting

You know, I’ve had my differences with Brad DeLong–and I really can’t stand his habit of editing people’s comments–but he’s actually a straight shooter. Robert Waldmann had asked the entirely reasonable question, “Jan Hatsius (and Brad DeLong) argue that the Fed should declare its intention of buying whatever quantity it takes of long-term Treasuries to […]

Murphy Debate With Sumner in January

It’s on. (I was going to link to an Eazy-E video of the song with that title, but remembered that women and children read this blog.) We haven’t picked an official date yet, but Sumner and I will go toe-to-toe in January. The topic? Anthropogenic climate change. He’s for, I’m against. Or maybe we’ll talk […]