Charles Plosser, Our Man on the Fed?
He has been saying things that sound surprisingly Austrian in regards to the limits of monetary policy.
Monetary Theory
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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.
Europe’s Tragic Crisis
At the root of the current crisis in Europe are the actions of the European Central Bank. As Philipp Bagus explains in his new book, only a realization of the true costs the euro has imposed on the continent in the past can shed light on the path to future recovery.
Monetary Planners as the Masters of Denial
One would think that being on the inside of many decades of careening one step ahead of monetary chaos might induce a sober, even cynical, spirit — that it might lead the insider to call for keeping one's metaphorical air-raid shelter well stocked and at the ready.
Job Creation and Other Economic Myths
As a developer, I do not hire an employee before I have conceived of a construction activity that will earn me a decent return. I hire an employee when I have a productive need for his services.
The Faults of Fractional-Reserve Banking
Fiat money — or, to be more precise, its production — is already a violation of the free-market principle; and fractional-reserve banking amounts to leveraging the economic consequences of fiat money. Austrians favor a money that is freely chosen and operates by market principles.
