Of course I didn't expect my recent post, listing "Ten Things Every Economist Should Know about the Gold Standard," to stop economists from repeating the same old misinformation. So I'm not surprised to find two of them, writing for a New York Fed blog, repeating recently some …
At the risk of sounding like a broken record (well, OK–at the risk of continuing to sound like a broken record), I'd like to say a bit more about economists' tendency to get their monetary history wrong. In particular, I'd like to take aim at common myths…
I'm very well acquainted… with matters mathematical, I understand equations, both the simple and quadratical, About binomial theorem I'm teeming with a lot o' news, With many cheerful facts about the square of the hypotenuse. I'm very good at integral and differential calculus; I know the scientific…
A monetary standard is a set of institutions and rules governing the supply of money in an economy. These rules and institutions collectively constrain the production of money. Through its constraints on money creation, the standard indirectly acts on prices. A monetary standard may also affect the…
I've been getting some flak lately from hard-core free market types for occasionally saying some nice things about NGDP targeting, and especially for suggesting, in the course of a recent Cato forum contribution, that we might improve upon the present U.S. arrangement by replacing the FOMC with…