I don't believe I've shared this lecture here, so I will remedy that. This is a talk I gave in December of 2009 at George Mason University in which I explore the history of banking in the US, the theoretical arguments against central banking, and then the…
Commenting on the appearance of the 100th issue of the Journal of Economic Perspectives, its founding editor, Joseph Stiglitz, remarks (page 22) that a diversity of perspectives is "especially important in a field known for having certain orthodoxies—orthodoxies that dominate for a while and then fade, making…
Scott Sumner writes, "I don't object to people noting that Bretton Woods had some characteristics of the gold standard; I've made that argument myself. But I wish the gold bugs would get the story straight. Half of them seem to think the US monetary system of the 1920s wasn't really…
Robert E. Keleher died on May 27 at the age of 67. His name will be previously known to few readers of this blog, but his ideas are highly important to the current world economic situation. Bob's most significant work was Monetary Policy, a Market Price Approach,…
In his NY Times column Sunday, Paul Krugman tries, in vain, to construct a case for bank regulation in light of the problems at JP Morgan. As usual with Krugman, there's much to disagree with, but I want to focus on his utterly ham-handed version of the…