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Michael J. Hoffman

Michael Hoffman is the author of Monetary Kaleidics: Reflections on Money Illusion and the War on Cash.

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We Don't Know If the COVID-19 Shock Will Be Inflationary or Deflationary

InflationInterventionism

04/29/2020Audio/Video
Government restrictions on production are driving prices up as unemployment drives them down. It's impossible to say now whether price inflation or price deflation will be the predominant factor in the crisis's next phase.
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We Don't Know If the COVID-19 Shock Will Be Inflationary or Deflationary

InflationInterventionism

Blog04/28/2020

Government restrictions on production are driving prices up as unemployment drives them down. It's impossible to say now whether price inflation or price deflation will be the predominant factor in the crisis's next phase.

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This Isn't Your Usual Demand-Shock Recession.

InflationMonetary Policy

Blog04/15/2020

This recession involves a big supply shock, which means that stimulus-fed consumption will bring capital consumption, which will ultimately lower productive capacity and standards of living.

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Labor and Labor Costs: Using Theory to Understand the Data

Labor and Wages

Blog09/02/2019

Labor is not homogeneous, so data analysis that speaks simply of "labor" and "labor costs" must be treated with extreme caution.

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Why $100 Bills Are Now the US Dollar's Most Common Banknote

08/16/2019Power & Market

Perhaps in the future, physical dollars and digital dollars will be recognized as two distinct mediums of exchange.

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