Wednesday, 29 June 2016
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    podcast word in white chalk against blackboard on a digital tablet wit a cup of coffee

    Macro Musings Podcast

    June 27, 2016
    If you are a fan of podcasts, let me recommend this relatively new one hosted by David Beckworth at the Mercatus Center. David’s views on the Great Recession are quite similar to those expressed by me and others on this blog. His list of guests to date includes John Taylor, John Cochrane, George Selgin, Scott […]
    Ecuador flag with Venezuela flag, 3D rendering

    Venezuela vs. Ecuador (Chavismo vs. Chavismo Dolarizado)

    June 24, 2016
    This article appeared in the July 2016 issue of Globe Asia. With the arrival of President Hugo Chávez in 1999, Venezuela embraced Chavismo, a form of Andean socialism. In 2013, Chávez met the Grim Reaper and Nicolás Maduro assumed Chávez’ mantle. Chavismo has not been confined to Venezuela, however. A form of it has been adopted by […]
    Flags Of Usa And Mexico On Grunge Texture

    The Fed’s policies and their consequences for Mexico

    June 21, 2016
    This piece originally appeared in Market Trends By Edgar Ortiz As mentioned in a previous article, on December 16 of 2015 the Fed announced a rate hike of 0.25 percentage points and Mexico’s central bank followed suit the very next day. The decision seemed logical considering that the peso was not ceasing to depreciate and a […]
    Federal Reserve Bank

    The Fed and its dual mandate

    June 20, 2016
    This piece originally appeared in Economics21 By Mickey D. Levy For over a decade, the Bernanke- and Yellen-led Federal Reserve have talked incessantly about conducting monetary policy to achieve the Fed’s dual mandate.  The unemployment rate is now 4.7%, at the Fed’s estimate of full employment.  When inflation rises to 2% by year-end, the Fed’s dual […]
    United States Federal Reserve System symbol.Close up

    Op-ed: The age-old problem of low interest rates

    June 16, 2016
    This piece originally appeared in Forbes Earlier this year, Michael Walker of the Fraser Institute in Vancouver, Canada released a paper that deserves the attention of everyone interested in the subjects of central banking, inflation and interest rates. In it, he makes a claim that could fundamentally change our understanding of monetary economics: An aging population (think of […]
    Hands Barter trading or swapping shoes and backpack or bag

    Is gift exchange necessarily kinder, gentler?

    June 14, 2016
    In a recent Alt-M post, George Selgin calls attention to a post at The Atlantic discussing David Graeber’s gift exchange hypothesis. For those of you unfamiliar with Graeber’s book, Debt: The First 5,000 Years, the basic idea of the gift exchange hypothesis is as follows. Prior to monetary exchange economies, many societies relied on gift […]
    Oil And Energy Industry

    On the price of oil

    June 8, 2016
    This article appeared in the June 2016 issue of Globe Asia. Since its high of almost $108/bbl in June of 2014, we have witnessed a stunning collapse in the price of oil. Indeed, in February 2016, a barrel of West Texas Intermediate (WTI) was trading at $26/bbl, a 76 percent plunge from the June 2014 highs. […]
    Candidate Donald Trump speaks at press conference

    Op-ed: Trump’s problem with the Fed

    June 6, 2016
    This piece originally appeared in The Hill  By Judy Shelton Donald Trump has a problem with the Federal Reserve. You could call it a love/hate relationship. He loves low-interest rates because, as a builder, low-cost financing enables him to develop new projects that add value to the economy. But he also thinks the zero interest rate policies […]