Archive for Scott Sumner
Those Silly Austrians Keep Making Econ 201 Errors
I can’t remember the course number for Intro to Micro, but I know I never actually taught “101” so maybe it was 201. Anyway, one of the points I would hammer home with the students was to distinguish between a movement in demand, versus moving along the demand curve. I would warn them not to […]
Read moreI Stand Athwart the Blogosphere, Yelling Stop
I waited several days to write about this, because it may sound like I’m calling for someone to be fired when that’s not my intention. All I want to do is point out that it’s weird that on one of the leading classical liberal / free-market economics blogs, the resident monetary excerpt applauds the Russian central […]
Read moreSumner, Like All of Us, Wants a KISS
I refer to types of Fed policy, of course. In a recent post criticizing the mental gymnastics Bernanke engages in regarding helicopter money, Scott writes: Or we could just raise the inflation target to 3%. Or even keep it at 2% and do level targeting. Or NGDPLT. All these epicycles to make helicopter drops work […]
Read moreI Don’t Play Favorites When It Comes to Market Monetarism
I finally met Scott Sumner at the APEE conference this week. We shook hands, exchanged pleasantries, and basically were civil human beings. But that will not stop me from making this post. The fate of the US economy hangs in the balance. We must not let personal associations cloud our duty. In a recent EconLog […]
Read moreSumner vs. Murphy, Round XIV
BTW Scott and I fight on the internet in the same way that young lion cubs spar. Anyway, in this post Scott pushes back, and I clarify in the comments. Note that I am standing up for a hypothetical Krugman, which my standard critics would be incapable of explaining. None of you understands my heart. […]
Read moreSumner Trolls Krugman
A great post from Scott, when he goes after my favorite Keynesian. Here’s the zinger from Scott: [Scott quoting Krugman:] The one sense in which Ireland has made some progress is that it has somewhat reassured bond investors that its population will continue to sullenly acquiesce in austerity; as a result, Irish 10-year rates, while […]
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