Monetary Economics
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On Price and Output Volatility: How Bad is Bitcoin’s Flaw?
“The working arrangements of a new generation of freelancing nomads are keen on and capable of handling the discrepancies between many currencies’ relative purchasing power, crypto or old-school.” ~ Joakim Book
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Why the Casual Attitude toward Inflation?
“The threat of inflation has been apparent for some time now, but those who have the power to do something about it seem to have the attitude that it will go away on its own.” ~ Randall G. Holcombe
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Stuck in Neutral: Trucking And the Pandemic
“Omicron is upon us and a Pi variant is coming, heedless of science or superstition. It would be best for the US, Canada, and the rest of the world to face the coming waves with robust, unfettered trade in operation.” ~ Peter C. Earle
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The Unfolding Tragedy In Turkey Underscores Preeminence of Currency Policy
“Hedging can mitigate currency lurches, but it can’t reverse the initial theft. Currency policy rates top-of-the-pyramid attention, but doesn’t get it. Turkey’s struggles remind us of currency policy’s preeminence.” ~ John Tamny
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Not Hyperinflation, but Plenty Bad Enough
“We see the seeds of this already in the intellectually bankrupt Modern Monetary Theory. MMT boils down to a simple policy prescription: politicians should feel free to print as much money as they want. That’s a recipe for hyperinflation.” ~ Antony Davies
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The Federal Government’s Debt Ceiling Needs More Teeth
“If Congress perceives the debt ceiling as a credibly binding constraint, then the ceiling must be set one level above Congress. The U.S. Constitution should be amended to restrict the ability of Congress to incur more debt.” ~ Michael Makovi
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A Smarter Debt Limit Bill
“Senate Republicans are expected to indulge in yet another futile game of bluff poker over the symbolic debt limit. They always fold in the end because Congress has no choice but to pay for obligations it has already incurred.” ~ Alan Reynolds & Steve Stein
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The Chinese Financial Sector: On the Brink of Death
“The Chinese banking and real estate sectors are on the brink of death. The government will do everything possible to reorganize the former and to save the latter, but it is very possible that it will be incapable of succeeding.” ~ Daniel Fernández
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Mises’s Regression Theorem, Bitcoin, and Subjective Value Theory
“If value is subjective, and if a medium of exchange is a good like any other, then how can we say that a good could not first be valued by some person somewhere as a medium of exchange rather than for some other purpose beforehand?” ~ Emile Phaneuf III
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A Three-Pronged Blunder, or, What Money Is, and What It Isn’t
“Can we please junk the stupid three-function definition of money? So what if textbook writers keep repeating it? It’s incoherent. It’s based on some earlier economists’ sloppy reading of Jevons’s classic treatment.” ~ George Selgin
-
•
On Price and Output Volatility: How Bad is Bitcoin’s Flaw?
“The working arrangements of a new generation of freelancing nomads are keen on and capable of handling the discrepancies between many currencies’ relative purchasing power, crypto or old-school.” ~ Joakim Book
-
•
Why the Casual Attitude toward Inflation?
“The threat of inflation has been apparent for some time now, but those who have the power to do something about it seem to have the attitude that it will go away on its own.” ~ Randall G. Holcombe
-
•
Stuck in Neutral: Trucking And the Pandemic
“Omicron is upon us and a Pi variant is coming, heedless of science or superstition. It would be best for the US, Canada, and the rest of the world to face the coming waves with robust, unfettered trade in operation.” ~ Peter C. Earle
-
•
The Unfolding Tragedy In Turkey Underscores Preeminence of Currency Policy
“Hedging can mitigate currency lurches, but it can’t reverse the initial theft. Currency policy rates top-of-the-pyramid attention, but doesn’t get it. Turkey’s struggles remind us of currency policy’s preeminence.” ~ John Tamny
-
•
Not Hyperinflation, but Plenty Bad Enough
“We see the seeds of this already in the intellectually bankrupt Modern Monetary Theory. MMT boils down to a simple policy prescription: politicians should feel free to print as much money as they want. That’s a recipe for hyperinflation.” ~ Antony Davies
-
•
The Federal Government’s Debt Ceiling Needs More Teeth
“If Congress perceives the debt ceiling as a credibly binding constraint, then the ceiling must be set one level above Congress. The U.S. Constitution should be amended to restrict the ability of Congress to incur more debt.” ~ Michael Makovi
-
•
A Smarter Debt Limit Bill
“Senate Republicans are expected to indulge in yet another futile game of bluff poker over the symbolic debt limit. They always fold in the end because Congress has no choice but to pay for obligations it has already incurred.” ~ Alan Reynolds & Steve Stein
-
•
The Chinese Financial Sector: On the Brink of Death
“The Chinese banking and real estate sectors are on the brink of death. The government will do everything possible to reorganize the former and to save the latter, but it is very possible that it will be incapable of succeeding.” ~ Daniel Fernández
-
•
Mises’s Regression Theorem, Bitcoin, and Subjective Value Theory
“If value is subjective, and if a medium of exchange is a good like any other, then how can we say that a good could not first be valued by some person somewhere as a medium of exchange rather than for some other purpose beforehand?” ~ Emile Phaneuf III
-
•
A Three-Pronged Blunder, or, What Money Is, and What It Isn’t
“Can we please junk the stupid three-function definition of money? So what if textbook writers keep repeating it? It’s incoherent. It’s based on some earlier economists’ sloppy reading of Jevons’s classic treatment.” ~ George Selgin