Category Archives: Monetary Policy

Milton Friedman Predicts the Rise of Bitcoin

I’ve seen this video making the rounds on Twitter and in the blogosphere recently: Of course, there’s been a lot of talk about Bitcoin in general. I’m no expert, and I’m not comfortable coming out one way or the other … Continue reading

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Will Ms. Yellen Be More of the Same?

Russ Roberts has a simple and straightforward word for those who are hot and bothered over President Obama’s nomination of Janet Yellen for Fed chair: relax. If history tells us anything it’s that political incentives just might move Yellen away … Continue reading

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I’ve been hesitant to jump wholeheartedly into the Bitcoin debate because, unlike a lot of commenters, I’m not sure I fully understand Bitcoin, its role as a medium of exchange (or not), and how this entire thing is going to …

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What do the state of Texas and the sovereign nations of Switzerland and Germany have in common? All of them are interest in repatriating gold reserves currently stored with the United States federal government. News of Germany’s repatriation efforts came …

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Is the Fed’s Exit Strategy Legitimate?

In his congressional testimony last week, Fed chairman Ben Bernanke suggested that the Fed might seek to exit its current strategy of quantitative easing by allowing bonds to mature rather than by selling them. As Hunter Lewis points out at … Continue reading

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Peter C. Earle provides a fantastic analysis of poker’s surge in popularity over the 2000s, showing that it tracks closely with the boom-and-bust cycle of the same era. The 2003 to 2007 poker boom is deftly explained by application of …

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Krugman and the Zombies

If the first rule of good writing is “show, don’t tell,” then it seems that Paul Krugman is ready to teach a master’s class in the subject. Krugman’s latest column–entitled “Rubio and the Zombies”–is written as a response to Marco … Continue reading

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On the topic of the $1 trillion coin. The quote comes from Detlev Schlicter’s Paper Money Collapse blog: The US government has its fans who believe that anything, legally or illegally, should be done to keep it living beyond its …

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Krugman v. Rothbard on Hoarding

As I mentioned earlier this week, Paul Krugman has taken to theorizing on Apple’s cash hoard. Well, he’s at it again: Cowen can’t see why corporate hoarding is a problem. Like Riedl and Cochrane, he concedes that there might be … Continue reading

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Krugman Gets a Visit from the Confidence Fairy

One of Paul Krugman’s favorite targets is what he refers to as “the confidence fairy,” which is the belief that business investment and the market in general can turn on the expectations of investors as to future stability: Pay no … Continue reading

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