The Great Inflation of the 1960s
No, I don’t mean price inflation. Rather this will be a sort of stream of consciousness on the explosive change of the 1960s. I’m using...
Author : TheMoneyIllusion
Don’t Believe What You Read About China
The tone of western reporting about Chinese high speed rail has been fairly negative. Stories of safety concerns, lack of ridership, excessively high ticket prices...
Yes, a brilliant economist really can be that bad at monetary economics
Last weekend I argued that Larry Summers was unqualified to be Fed chair. Lots of people pushed back, pointing to his obvious brilliance. But that’s...
Please Mr Krugman, Don’t Sink to the Level of Your Opponents
Paul Krugman must feel a need to churn out blog posts at a very fast rate (I know the feeling.) Most are excellent. But his...
China Has a Pathetically Small Infrastructure
But that’s mostly because it’s a pathetically poor country. Here’s is China’s infrastructure as a share of GDP......
A Sad Reversal from Paul Krugman
Paul Krugman did some excellent columns in the 1990s on the need for sweatshops in third world countries. He still believes they are necessary, but...
The NYT on MMT
Someone must have told the New York Times that Market Monetarist Theory was hot! HT: Marcus Nunes Update: As usual, the NYT had impeccable timing....
Listening to the markets (plus no more zero bound)
No one likes to be contradicted. But I must admit that the markets are increasingly pointing to the likelihood that I’ve been too pessimistic about...
Phantom limb Keynesianism
The US economy continues to slide into double dip recession under the savage...sterity of income tax increases, payroll tax increases, and deep spending cuts. Not....
Chris Giles on Intermediate Targets
The UK Treasury has asked the BoE to comment on the economic variables it could use as intermediate thresholds, while keeping to its ultimate 2...