Caught: Krugman’s Shifting Arguments
In two recent blog posts on the varying economic fortunes of US states, Krugman's about-face was complete and fast.
Monetary Theory
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Inflation Is Here, and It Is Going to Get Worse
The growth momentum of price indexes shows visible strengthening. Prepare for more.
What’s Behind the Currency War?
In a wider historical perspective, the current currency war is the latest conflict in a series of acute crises of the modern international monetary system. In a world of national monetary regimes based on fiat money without physical anchors, domestic monetary instability automatically transforms into exchange-rate instability.
Charles Plosser, Our Man on the Fed?
He has been saying things that sound surprisingly Austrian in regards to the limits of monetary policy.
QE2 Fuels a Global Fury
Higher food prices set off the revolutions in Tunisia and Egypt and the mass protests in countries like Algeria, Jordan, Yemen, Bahrain, and Iran. People in these countries buy more unprocessed foods and spend a much higher percentage of their income on food, so they have been severely impoverished by Bernanke's QE2.
Daniel Bernoulli and the Founding of Mathematical Economics
The use of mathematics necessarily leads the economist to distort reality by making the theory convenient for mathematical symbolism and manipulati
The Euro Debt Crisis and Economic Theory
The cause of the European debt crisis, in its simplest form, was overspending by (mainly southern) European governments during the last decade, and especially after the 2008 financial crisis.
Should Congress Raise the Debt Ceiling?
If the newly elected budget "hawks" really wanted to impress us, they could refuse to raise the debt ceiling. Then they and their colleagues would have no choice but to start slashing.
The Politics of Deflation
The Fed was created for the benefit of the banking class, and while it remains under the control of that class it will not pursue a policy that would lead to a breakdown in the monetary system from which the banking class profits.
The Many Euphemisms for Money Creation
Since the outbreak of the so-called international-credit-market crisis, euphemisms have risen to great prominence. This holds true in particular for monetary-policy experts, who are at great pains to disguise what they are doing.
