Sounds like what we’ve been saying here. From over there: The Fed should have a single nominal target. The Fed needs to be transparent and have specific and well-defined monetary policy goals. The Fed should focus only on monetary policy, and regulation of the large banks. From over here: At its heart, the consensus between the two […]
When this article appeared in Stuff it seemed to want to give the impression that drugs = bad. That is good for it. However, when I read it it simply made me think that we should legalise said drugs. Here is why. Ecstasy users are unwittingly taking other potentially more dangerous substances including P, as […]
I agree with this quote 100%: There is often a discussion about the great divides in economics – Neoclassical vs. Keynesian, Freshwater vs. Saltwater, Left-Wing vs. Right Wing, Top-Down vs. Bottom-Up, Elites vs. Populists, etc. Another one should be between economists who feel the way to counter the distortions caused by 34 different government policies […]
In a recent post Paul Krugman raises the “paradox of toil” to explain why tax cuts are silly and government spending is good during a recession: So what’s the paradox of toil? If you cut taxes on labor income, this expands labor supply — which puts downward pressure on wages and leads to expectations of […]
At least from me. I am away. There will be posts, I’ve got a number of little delayed ones coming along. And I’ll try to respond to comments when I get back – we will see 😉
His work and his methods drove economics into the position it is today. In terms of driving the economic method forward (and establishing “economic science”) he is the most important economist of the 20th century in my opinion. Here are some links discussing his life and work: Economist’s View. Marginal Revolution (and, and) Anti-Dismal. Paul […]