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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Unemployment

Booms & Busts, Economic History, Inflation & Deflation, Money & Politics, News

The New Deal and Recovery, Part 21: Happy Days

George Selgin/August 31, 2022February 7, 2023

By the start of 1948, there could no longer be any doubt: the Great Depression wasn't coming back. Instead of collapsing at war's end, as many feared it would, combined government and private spending (as measured by nominal Gross Domestic Product) hardly budged between 1945 and 1946,…

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Phillips curve, unemployment, real wages, Federal Reserve, productivity
Economic Thought, Money & Politics, News

Eppur Si Muove, or, How Not to Explain Stagnant Real Wages

George Selgin/July 24, 2018June 19, 2022

Lately the old-timers here at Cato's Center for Monetary and Financial Alternatives — which is to say, Jim Dorn and I — have been talking a lot about the Phillips Curve, which seems to be playing a part in monetary policy discussions today almost as big as…

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dual mandate, FOMC, labor force participation, Phillips Curve, Unemployment
Money & Politics, News, The Fed & Central Banks

The Jobs Conundrum

Gerald P O'Driscoll/June 8, 2017June 19, 2022

At next week’s FOMC meeting, the state of the labor market will play a key role in policy deliberations. But there’s a lot more going on underneath top line unemployment numbers that make them a bad tool for monetary policy decision-making. The May employment report is a…

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Booms & Busts, The Fed & Central Banks

The Fed and the Recovery, or, QE not D

George Selgin/April 2, 2015June 19, 2022

Lately more and more people seem inclined to congratulate the Fed for the great job it has done saving us from another Great Depression and getting the U.S. economy back on its feet. Frankly, I’m getting tired of it. It’s not that I’m cock-sure that the Fed’s post-2008 actions haven’t…

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Contributors

  • Larry White
  • Jennifer Schulp
  • George Selgin
  • James Dorn
  • Norbert Michel
  • Hu McCulloch

Categories

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  • Uncategorized (11)
  • Working Papers (7)

Recent Posts

  • The New Deal and Recovery, Part 23: The Great Rapprochement
  • The New Deal and Recovery, Part 22: Postwar Monetary Policy
  • Diamond and Dybvig and the Panic of 1907
  • Diamond, Dybvig, and Government Deposit Insurance
  • Bank and Crypto Runs: F(ac)TX vs Fiction
  • The New Deal and Recovery, Part 21: Happy Days
  • Stop Lionizing Paul Volcker and Villainizing Arthur Burns

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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