Is Madison the Future of America?
This map shows whites in blue, blacks in green, hispanics in yellow, and Asians in red. Notice that blacks and hispanics live on the edges...
Author : TheMoneyIllusion
Pay attention to the theoretical world
Mark Sadowski sent me this link by John Carney: Sumner, for example, i nsists on treating quantitative easing as an increase in the monetary...
Brad DeLong Seems to Think He’s Nostradamus
The rule of thumb, IIRC, is that the average duration of an unemployment spell increases by 1/4 of the increase in the duration of unemployment...
Average isn’t over in China
Good news : In the same week that international educators are debating the comparative merits of global school systems—and whether China’s PISA scores are overhyped...
Bloomberg’s Editors Miss the Point
Another article on the eurozone crisis that misses the elephant in the room: The same goes for the weakest euro-area economies, except that in their...
Mark Sadowski Finds the Smoking Gun
I don’t know how Mark Sadowski has time to find all this stuff, but if he were to become a blogger he’d immediately be one of...
A crude attempt to translate Rowe/Krugman/DeLong into monetarism
As readers know I’m not very good at mathematical economics. Actually that’s not quite right, I’m pretty good at that part of math called “geometry,”...
James Bullard on Monetary Policy in 2008
James Bullard makes some good bullet points in a PowerPoint presentation: Recessions are dated only long after the fact by an unofficial “NBER dating committee.” The...
Aggregate Demand–it’s Not What You Think
Most people have some understanding of “demand,” at the level of individual products. Most people think aggregate demand is somehow related to that concept of...
Memo to FT Editors: Be as Crazy as You Like, But Give Us an Explanation
There seems to be no end to the creative ways by which people justify outrageously contractionary monetary policies. First we were told that monetary stimulus...