In case anyone might otherwise miss it, I have added an addendum to my last post, responding to Scott Sumnner's reply to it.
Booms, etc.: Addendum

by George Selginon
About George Selgin
George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary...