Greenspan Absolves Himself
According to Greenspan, the Fed doesn't have much control over long-term interest rates.
Monetary Theory
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Hoist That Load
Our town council, who loves taxes like my cat loves cream is talking about a sales tax increase: a frequent subject of their deliberations.
The cost-price doctrine on Böhm-Bawerk and Reisman
Mises and Rothbard created a very strong following of fine scholars and brilliant minds.
Perpetual Trade Deficits Can Be Good
However, a large trade deficit — even one that persists for decades — is not necessarily bad or unsustainable.
Adam Smith and Karl Marx’s basic and monumental (in consequences) error
What could these two thinkers, considered to be opposites, have in common?
How Many Traders Can You Fit into a Model?
What, then, can be done with economic theory whose models resemble jokes about how many elephants can be fit into a refrigerator? And how, given the overrepresentation of often indecipherable mathematical symbolism, is one to distinguish good economics from bad?
And Thus It Came to Pass
August 2 saw Matthew Beller’s Daily Article “The Coming Second Life Business Cycle,” wh
Good Question Marty
In his new NBER working paper Martin Feldstein writes that “Reducing the large current account deficit will require both a higher rate of nat
