The Mundell interview goes on to say: “Of course, one would keep the dollar and the euro. This international currency would be used in the large international exchanges, for movements of capital and commercial transactions.” For more on Mundell, see these comments and this critique .
As reported today, foreign interest in US Treasuries are down. Bid to cover is down to 1.78 now. Treasuries Slip, Foreign Banks Shy Away Treasurys snap back on Fed view --> Auction Fizzles From the CBS Marketwatch story (the second one above): “Noncompetitive bidding was $54 million vs. $156 million a month ago.” Ouch. I think I see where this
Two separate articles today comment on the same underlying theme: that much of government economics statistics are wrong. The first, from Gerard Jackson , points out the problem of trying to make meaningful analysis from aggregate data, which can be misleading. He says: “The problem is the Keynesian tyranny of aggregates. The vast majority of
Brad DeLong, who is Keynesian, has an interesting post from the Suskind/O’Neill book “The Price of Loyalty.” He titles his post: “Worst Presidential-Level Economic Policy Meeting Ever.” (I thought DeLong’s piece on the erosion Okun’s Law was interesting
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.