Does planning explain prosperity?
Richard Fisher recently indicated that he was a fan of Ha-Joon Chang. He specifically cited this interview of Chang in the Financial Times : Park...
Author : TheMoneyIllusion
Brace Yourself for the Taper
The research staff at TheMoneyIllusion.com anticipates that unemployment will fall to about 6% by the end of 2014. If so, then market monetarists can be...
Currency Demand at Christmas
My dissertation looked at currency demand at Christmas. Here’s what I discovered: 1. Between December and January of each year real currency demand falls. 2....
Nick Rowe on Cochrane and Williamson
Here’s Nick Rowe:I have been arguing with John Cochrane and Steve Williamson over whether central banks announcing higher nominal interest rates is inflationary or deflationary......
Two quick comments on taxes
Matt Yglesias has a post on land taxes: Subtract and we conclude that there’s $1.758 trillion* worth of land in the corporate sector. Last we...
Somewhere Between Rocket Science and Quantum Mechanics
Monetary economics is definitely harder to grasp than rocket science, but easier than quantum mechanics. One of the hard parts is breaking free from the...
The “stance” of monetary policy
When I present my talk on the 2008 recession there are always questions about my claim that money was tight in 2008. Smarter questioners will...
It’s Not About Inflation
Over the years my critics, and even some of my supporters, have said; “Sumner is basically proposing higher inflation as a solution.” That was never...
We Are the Freak Show
The press tends to treat foreign countries as a sort of “freak show.” ”Look at all the bizarre things going on in China!” Or Japan,...
Is the eurozone beginning to wake up to reality?
Mark Sadowski sent me some interesting links from the WSJ : Speaking to journalists late Wednesday in Frankfurt, Deutsche Bank chief economist David Folkerts-Landau said...