Back to the countryside, once again
Tyler Cowen recently linked to this story in The Guardian, and wondered whether it was an indication of a Chinese recession: China’s Workers Abandon the...
Author : TheMoneyIllusion
Chinese house price bleg
People are always talking about the Chinese house price bubble. And I have to admit that it was also my impression that Chinese house prices...
Still crazy after all these years?
Here’s Alexander Humboldt: First they ignore it, then they laugh at it, then they say they knew it all along. In late 2008, I wrote...
The Greatest Stagnation
There are lots of Great Stagnations, all over the world. I recently did a post on the situation in the US, and Tyler Cowen did...
There is no such thing as public opinion
A headline from Variety: Study: Audiences Want Metal Detectors in Theaters, But Won’t Pay Extra Fortunately the study shows exactly the opposite; the public doesn’t...
Just when you thought it couldn’t get any worse
A different health care issue has emerged for Democrats, in sync with the party’s pitch to workers and middle-class voters ahead of next year’s elections....
China: More of the same?
I recently listened to a very good interview of Tyler Cowen by Erik Torenberg. For me, it was 80 minutes of bliss. I tend to...
Endogenous money and the QTM (#4)
In the first three posts of the series I sketched out a simple model of inflation and NGDP growth. For large persistent changes in the...
The Quantity Theory at the extremes (#3)
Our initial look at the quantity theory was very positive. Over long periods of time the growth rates of M and P are highly correlated,...
Why is growth deflationary? And why do we all think it’s inflationary?
In the previous post I sketched out the basic correlation between M and P, when M is changing really fast. Here we’ll take a deeper...