NGDP targeting, monetary constitution, monetary rules, discretion, James Buchanan

(Originally appeared on January 12, 2013.) An important post from Lars Christensen at The Market Monetarist this morning.  Lars argues that many folks have misunderstood the argument for monetary easing in order to target NGDP growth by framing it in terms of discretionary policy.  The market monetarists,…

[Note:  This was originally posted at Bleeding Heart Libertarians and directed at that audience, but I will repost here as well.] In my recent post responding to Matt Yglesias on the gold standard, at least one commenter was surprised to find a defense of “goldbuggery” here at BHL. I’m guessing…