Will a GDP Futures Market Be Liquid?
byAt the Cato Monetary Conference this week, Scott Sumner said he had a “modest” proposal, that there should be a highly liquid futures market…
NGDP
Money demand and banking – some challenges for the “Free Bankers”
byWithin the Austrian School of Economics there has long been disagreement and therefore occasionally fierce debate about the nature and consequences of fractional-reserve banking,…
The Corruption of Capitalism in America
byFollowing on from John Butler’s review, here’s Detlev’s take on “The Great Deformation” … David Stockman’s new book is a brilliant, penetrating analysis of the present state…
Central Bank Revolution I: market monetarism misdiagnosis (M3)
byTo begin to understand how central banks intend to reignite economic growth we have to understand that central bankers believe that changes in the…
The Central Bank Revolution I (well ‘nominally’ so)
by“The Checklist Manifesto – How to get things right”, is a masterful book for its narrative and practical application. Written by Atul Gawande, an…
The walking dead
by“A formidable set of difficulties is encountered when we ask what there is left of the notion of monetary neutrality for a society which…
The fallacy of nominal GDP targeting
byIn a truly remarkable piece for the Financial Times yesterday, Wolfgang Münchau took another swipe at the Euro-sceptic and ECB-critical community in Germany, which he accuses…