This archived content originally appeared at, the predecessor site to, and does not carry the sponsorship of the Cato Institute.

David Glasner is now blogging

David Glasner has just begun his own blog, Uneasy Money. Glasner wrote the worthwhile book Free Banking and Monetary Reform (1989). The publisher, Cambridge University Press, wants £72 for it. Amazon sells it at about half as much new, $58, and has used copies starting at $15. Readers who want to acquire the book will presumably minimize their costs.

In his first post, Glasner speaks of "the groundlessness of right-wing opposition to monetary easing." Whoa, fella. You accept Scott Sumner's argument that the Federal Reserve didn't respond fast enough to a large, sudden rise in demand for the monetary base in 2008. Eventually it did respond, and now the monetary base is about three times what it was just before the recession. Isn't it equally conceivable that the Fed won't respond fast enough if there is a large, sudden fall in demand for the monetary base? If so, the right-wing critics have a concern that may  become valid sooner than you expect. That being said, I look forward to reading further installments of the blog.


  • Kurt, Thank you for mentioning my new blog, and my not so new book. The disparity in prices for the book might have something to do with whether it is hardback or the paperback edition. Concerning your substantive point about the possibility that the demand to hold the monetary base will decline causing future inflation, I hope you won't mind if I save my response for a posting on my blog in the near future. Best, David