Saturday, 18 November 2017

Economics

“I am not an Economist…”

Posted by Tyler Watts
June 1, 2012
in Blog

“…nor am I a doctor. But here is a critique of a school of economic thought, along with an appendectomy!”     “Donny, you’re out of your element.” Fans of the cult classic film “The Big Lebowski” will recognize this line used by the neurotic Walter (John Goodman) to put the scatterbrained Donny (Steve Buscemi) […]

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Sound Money Interview Series: Dr. Thomas Rustici

Posted by Gonzalo Schwarz
March 28, 2012
in Blog

What’s the point of saving the banks if you’ve got to destroy money to do it? We sat down with Dr. Thomas Rustici from George Mason University and discussed his speech “Thinking the Unthinkable” about the coming demographic and fiscal crisis and the possibility of hyperinflation in America, and his plan to begin moving the […]

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“The Federal Reserve System’s Influence on Research in Monetary Economics” – White

Posted by Tom Duncan
May 18, 2011
in Blog

“The Federal Reserve System is a major sponsor of monetary economics research by American economists. I provide some measures of the size of the Fed’s research program (both inputs and published outputs) and consider how the Fed’s sponsorship may directly and indirectly influence the character of academic research in monetary economics. In particular, I raise […]

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“Two Years of Epic Stimulus Failures” – Steve Stanek

Posted by Tom Duncan
March 9, 2011
in Blog

“We’ve just passed the second anniversary of “economic stimulus” under President Barack Obama. Aside from spending on the stimulus itself—the actual price tag soon climbed from $787 billion to $862 billion—not much else has been stimulated. Well over half-a-trillion dollars have been poured into the U.S. economy courtesy of the American Recovery and Reinvestment Act […]

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“Making Sense of the Controversy” – FEE

Posted by Tom Duncan
February 25, 2011
in Blog

“The Foundation for Economic Education’s goal from the very beginning was to promote, what Leonard E. Read called, the freedom philosophy. Understanding the principles of economics is a crucial step to understanding why freedom works. The tools of economics can illustrate why many policies have the opposite effect of their stated goals. This is exactly […]

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“Spreading Hayek, Spurning Keynes”

Posted by Tom Duncan
August 30, 2010
in Blog

“To these free-market economists, government intrusion ultimately sows the seeds of the next crisis. It hampers what one famous Austrian, Joseph Schumpeter, called the process of “creative destruction.” Governments that spend money they don’t have to cushion downturns, they say, lead nations down the path of large debts and runaway inflation. Eight decades ago, in […]

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The Seigniorage Curse

Posted by Tom Duncan
March 31, 2010
in Blog

“The Seigniorage Curse appears to hollow out the economy by the following manner: First, the premium charged to holders of dollars becomes a new source of accrued, aggregate revenue. This extra capital flowing into the economy is initially seen as a global honoring of our economy’s strength, and innovation. But when innovation falters and less […]

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Monetary Policy in a World of Uncertain Productivity Growth

Posted by Tom Duncan
March 25, 2010
in Blog

“This paper considers inflation forecasts for 2001 under two different assumptions about productivity growth. One assumption, the optimistic one, is that productivity growth has risen above its long-run historical average and that 2001 will see near price stability. The other, the pessimistic one, is that monetary policy itself has been a major factor influencing productivity […]

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Inflation

Posted by Tom Duncan
March 24, 2010
in Blog

“Inflation rates vary from year to year and from currency to currency. Since 1950, the U.S. dollar inflation rate, as measured by the December-to-December change in the U.S. Consumer Price Index (CPI), has ranged from a low of −0.7 percent (1954) to a high of 13.3 percent (1979). Since 1991, the rate has stayed between […]

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Monetary Policy Operating Procedures

Posted by Tom Duncan
March 10, 2010
in Blog

“This work provides an overview of monetary policy operating procedures in emerging market economies. Most of the discussion reflects the situation in mid-1998. The emphasis is on general principles although in practice country-specific factors condition actual procedures. Yet there has been a certain convergence in monetary policy instruments and procedures in recent years, not only […]

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