Three Flawed Fed Exit Options
Can the Fed gracefully exit from the huge hole it has dug for itself? Unfortunately my answer is no.
Monetary Theory
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Once-Temporary Tariff
When the Civil War closed, the revenue acts that had been hastily passed during its course constituted a chaotic mass, writes F.W. Taussig.
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.
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.
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.
Charles Plosser, Our Man on the Fed?
He has been saying things that sound surprisingly Austrian in regards to the limits of monetary policy.
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.
