I’ll present this without much commentary, but in case you missed it, Paul Krugman has a brutal takedown of Milton Friedman here: “So Friedman has vanished from the policy scene [ … ]
Category: Macro Perspectives
My Quick Take on Gold as an Investment, a Currency & Money
Question: I’ve read some of your stuff on gold, but can you give us a general opinion of the gold standard, gold as money and gold as an investment?
Interest On Excess Reserves isn’t Keeping Inflation Low
Noah Smith has some good observations about a recent Martin Feldstein piece in which Feldstein claims that interest on excess reserves is keeping inflation low because it’s enticing banks not [ … ]
Monetary Realism Means Choosing Knowledge Over Ideology
“skate where the puck’s going, not where it’s been”. – Wayne Gretzky
Post-Keynesian is not Necessarily Modern Monetary Theory (MMT)
I am going to wade into the dark waters of MMT once again here, but only because this is a very important point. I was discussing some things about the [ … ]
What’s Unique About Monetary Realism?
Monetary Realism has been influenced by many schools of thought, but also contributes a unique perspective, approach and contributions to the world of finance and economics. In its simplest form, [ … ]
The “Liquidity Trap” Theory Was Never Right….
Apparently there’s some confusion over the title of my last post. Perhaps I should have been clearer. I am aware that Dr. Krugman and others have been claiming there are [ … ]
Where Does “Cash” Come From?
There’s this obsession with physical money in life. I don’t know where it comes from or why it persists, but it does. I guess maybe it’s the sense of security [ … ]
Understanding Inside Money and Outside Money
One of the keys to understanding Monetary Realism and the modern monetary system (see full explanation here) is understanding the various forms of money that exist within the system. For this [ … ]