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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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NGDP

Economic Thought, Inflation & Deflation, Money & Politics, News, The Fed & Central Banks

Reifschneider and Wilcox's Case for a Three Percent Inflation Target

George Selgin/August 23, 2021June 19, 2022

In view of the Fed's failure to achieve two percent inflation for much of the post-2007 period, the suggestion that it will find it easier to hit a higher target may well strike many as perverse—as if someone suggested that a pole vaulter unable to manage a…

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The Fed might be warming up to NGDPLT in the eyes of some, but George Selgin says otherwise.
Events, Fiat Money, Money & Politics, News, Recommended Reading, The Fed & Central Banks

Is the Fed Getting Warmer?

George Selgin/September 10, 2020June 19, 2022

Relax: the Fed isn't about to catch fire or melt. This isn't about that sort of warming. It's about a different, more benign sort of Fed warming that my pals at the Mercatus Center claim to have discerned. Still, I don't believe them. Call me a Fed…

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inflation, deflation, ioer, fed, floor system, deflation bias, wicksell, monetary policy, excess reserves, NGDP
Economic Thought, Inflation & Deflation, The Fed & Central Banks

The Two-Per-Cent Solution

George Selgin/September 19, 2017June 19, 2022

The Fed’s persistent failure to reach its 2 percent inflation target ever since that target was first made explicit in 2012 has elicited a great deal of commentary in the last couple months, from economists, journalists, and some Fed officials themselves. And well it ought to, for…

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Canadian banking system, base money, free banking, economic history, monetary base
Economic History, Free Banking

Did Free Banking Stabilize Canadian NGDP?

George Selgin/September 14, 2017June 19, 2022

About a month ago, a Facebook post drew my attention to an attempt, by Casey Pender of Prague's CEVRO Institute, to test my thesis that free banking contributes to NGDP stability using statistical evidence from Canada, which had a relatively free banking system between 1867, the year of…

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Ben Bernanke, Courage to Act, financial crisis, Great Recession, NGDP sterilization
Booms & Busts, The Fed & Central Banks

Sterilization, Fed Style

George Selgin/December 4, 2015June 19, 2022

At the risk of belaboring the obvious, I feel compelled to begin this second installment of my response to Ben Bernanke’s memoirs with an observation — a platitude, if you like — concerning the proper role of emergency central-bank lending in a generally free economy. The observation…

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About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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