Monday, 05 December 2016
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    Public infrastructure: Welcome to the world of waste, fraud, and abuse

    November 28, 2016
    This article appeared in the December 2016 issue of Globe Asia Economic policy is subject to fads and fashions. The most recent economic-policy fad is public infrastructure. Its advocates include progressives on the “left” – like President Obama, Hillary Clinton, and Bernie Sanders – and populists on the “right” – like President-elect Trump. They tell us to […]

    34th Cato Monetary Conference: Central Banks and Financial Turmoil

    November 23, 2016
    This piece originally appeared in Alt-M By Ari Blask  More than two hundred people came to Cato last Thursday, November 17th, for the 34th Annual Monetary Conference. Four panels and two keynote speakers covered “Central Banks and Financial Turmoil,” the theme of this year’s conference. In his introduction, CMFA’s James Dorn laid out some of the […]
    United States Federal Reserve System symbol.Close up

    Monetary debates

    November 14, 2016
    In recent decades, the “big debate” among monetary economists and policy makers was “Rules versus Discretion.”  That debate accepted that the various tools/instruments available to monetary policymakers are well known.  Implicit is that the linkages between open market operations of the central bank’s trading desk and the objectives of monetary policies have been defined and […]
    Federal Reserve Building In Washington, Dc

    The asymmetry of central bank power

    November 10, 2016
    For some time now, a lot of attention has been put on the Federal Reserve’s decision on whether or not to increase the federal funds rate target or to leave it unchanged at its current level. The health of the U.S. economy (and a significant part of the world economy) seems to depend whether or not the […]
    Brexit Blue European Union Eu Flag On Broken Wall And Half Great Britain Flag

    Op-ed: What Brexit means for the euro

    November 7, 2016
    This article originally appeared in Forbes International political and economic news in recent weeks was filled with stories and analyses of the United Kingdom referendum to leave the European Union (EU). The immediate results of the vote included the resignations of the British Prime Minister and other government leaders, as well as a substantial decline […]
    Federal Reserve Bank

    Op-ed: On November 8th, I’m voting for our next Fed Chair

    November 4, 2016
    This piece originally appeared in the Daily Caller With just days until the conclusion of one of our history’s most polarizing presidential election cycles, it’s hard for a proponent of a free-society to be truly excited. But while it may be difficult to accurately predict what a Clinton or a Trump presidency might look like, […]

    The price of time and the price of money

    November 2, 2016
    When discussing the market for money balances, many reputable macroeconomics and money and banking textbooks say that the price of money is the interest rate.  This ‘liquidity preference’ theory is misguided.  The kernel of truth therein is that, in holding higher money balances, an individual is forsaking earning a nominal rate of return on assets […]

    The twists and turns of the greenback

    October 27, 2016
    This article appeared in the November 2016 issue of Globe Asia. At a monetary conference in Vienna back in 2014, the distinguished Frenchman, friend, and occasional collaborator Jacques de Larosière proclaimed that the current world monetary order should be termed an “anti-system.” He has a point – an important point. Among other things, such an anti-system […]