Monetary Policy
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“Britain’s Inflation Pain Poses Risk for Recovery”
“Committee members at the Bank of England and some economists have been puzzled by persistently high inflation in Britain, causing some concerns that the country’s recovery might stagnate. Unlike in the United States and in countries that share the euro, inflation in Britain never came close to zero in 2009. And while core inflation, which…
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“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
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The Age of Turbulence
“Alan Greenspan shares the story of his life first simply with an eye toward doing justice to the extraordinary amount of history he has experienced and shaped. But his other goal is to draw readers along the same learning curve he followed, so they accrue a grasp of his own understanding of the underlying dynamics…
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The U.S. Debt Burden
In the aftermath of the financial crisis, the U.S. public debt-to-GDP ratio has been receiving special attention. A recent report from the Treasury to Congress said that the ratio of total government debt to nominal GPD will rise from 93 percent this year to 102 percent by 2015. The report also concludes that the net…
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“Chicago Fed’s Evans ‘wary’ of more asset purchases”
“”There are limits to what policy can do,” especially to improve the nation’s labor market, Evans said in a television interview on CNBC. Interest rates are near zero as the Federal Reserve’s stuck with an accommodative monetary policy, and it’s already purchased $1.75 trillion of housing-related assets to keep long-term market interest rates low.” Read…
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Money: Its Origins, Development, Debasement and Prospects
“This book tells how money has conferred power and profits to those in positions to monopolize its production, abuse their power, and ultimately destroy the value of the nation’s economy. It tells why government has not and will not — because it can not — preserve the value of your money. It tells how we…
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“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
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I, Pencil
“I, Pencil, simple though I appear to be, merit your wonder and awe, a claim I shall attempt to prove. In fact, if you can understand me—no, that’s too much to ask of anyone—if you can become aware of the miraculousness which I symbolize, you can help save the freedom mankind is so unhappily losing.…
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“A Fiscal Theory of Government’s Role in Money”
“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. Public monopoly production of coins and banknotes, substitution of fiat for commodity standards, and restrictions on substitutes for government money all generate revenue and especially…
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“The Financial Crisis: A Timeline of Events and Policy Actions”
“February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities. April 2007 April 2, 2007 | SEC Filing New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy…
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“Britain’s Inflation Pain Poses Risk for Recovery”
“Committee members at the Bank of England and some economists have been puzzled by persistently high inflation in Britain, causing some concerns that the country’s recovery might stagnate. Unlike in the United States and in countries that share the euro, inflation in Britain never came close to zero in 2009. And while core inflation, which…
-
“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
-
The Age of Turbulence
“Alan Greenspan shares the story of his life first simply with an eye toward doing justice to the extraordinary amount of history he has experienced and shaped. But his other goal is to draw readers along the same learning curve he followed, so they accrue a grasp of his own understanding of the underlying dynamics…
-
The U.S. Debt Burden
In the aftermath of the financial crisis, the U.S. public debt-to-GDP ratio has been receiving special attention. A recent report from the Treasury to Congress said that the ratio of total government debt to nominal GPD will rise from 93 percent this year to 102 percent by 2015. The report also concludes that the net…
-
“Chicago Fed’s Evans ‘wary’ of more asset purchases”
“”There are limits to what policy can do,” especially to improve the nation’s labor market, Evans said in a television interview on CNBC. Interest rates are near zero as the Federal Reserve’s stuck with an accommodative monetary policy, and it’s already purchased $1.75 trillion of housing-related assets to keep long-term market interest rates low.” Read…
-
Money: Its Origins, Development, Debasement and Prospects
“This book tells how money has conferred power and profits to those in positions to monopolize its production, abuse their power, and ultimately destroy the value of the nation’s economy. It tells why government has not and will not — because it can not — preserve the value of your money. It tells how we…
-
“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
-
I, Pencil
“I, Pencil, simple though I appear to be, merit your wonder and awe, a claim I shall attempt to prove. In fact, if you can understand me—no, that’s too much to ask of anyone—if you can become aware of the miraculousness which I symbolize, you can help save the freedom mankind is so unhappily losing.…
-
“A Fiscal Theory of Government’s Role in Money”
“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. Public monopoly production of coins and banknotes, substitution of fiat for commodity standards, and restrictions on substitutes for government money all generate revenue and especially…
-
“The Financial Crisis: A Timeline of Events and Policy Actions”
“February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages and mortgage-related securities. April 2007 April 2, 2007 | SEC Filing New Century Financial Corporation, a leading subprime mortgage lender, files for Chapter 11 bankruptcy…
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