Monday, 27 March 2017

Blog

Blogging by friends of Atlas and others who concerned with the issues at hand.

Cash and the Zero Lower Bound

March 22, 2017

This is the fourth (and, perhaps, final) post on Ken Rogoff’s The Curse of Cash. As summarized in an earlier post, Rogoff argues that the benefits of banning cash (e.g., preventing crime, enabling effective monetary policy) exceed the costs (e.g., a reduction in financial privacy). He does not attempt to estimate the benefits and costs […]

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Nominal is Real; Real is Artificial

March 13, 2017

A basic tenet of macroeconomics and monetary economics is the difference between nominal variables and real variables. Nominal variables are expressed in current market prices. Real variables are adjusted to reflect the changing purchasing power of money over time (inflation or deflation). For example, the nominal interest rate is the rate that currently prevails in […]

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Sound Money Is Rising at the State Level

Posted by Clint Siegner
March 7, 2017

This piece originally appeared in Mises Institute Inflation is the most pernicious of taxes levied by our government. Officials systematically devalue the dollar, then levy capital gains taxes on assets when their dollar price rises. The “gains” are largely illusory. Rising asset prices over time reflect the fact that the dollar buys less of everything. But the […]

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What the Fed Can’t Do

March 2, 2017

The American economy is still in the doldrums.  It is growing and creating jobs at a snail’s pace compared to the years before the financial crisis.  There are several reasons for this.  But the actions of the Federal Reserve bear significant blame.  For now, the public’s anger at the Fed’s questionable activities during and after […]

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Cash and Crime

February 21, 2017

This is the third of several posts on Ken Rogoff’s The Curse of Cash. As summarized in an earlier post, Rogoff argues that banning physical cash has two major benefits: reducing crime and enabling effective monetary policy at the zero lower bound. In this post, I will address the first of these supposed benefits by […]

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How Much Cash is Used by Criminals and Tax Cheats?

February 7, 2017

This is the second of several posts on Ken Rogoff’s The Curse of Cash. In this post, I consider Rogoff’s estimate for the extent to which cash is used by criminals and tax cheats. If you have not yet read the book, I offer a brief summary in a previous post and I will consider […]

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