When I read media discussions about deflation,” three separate meanings are often used more-or-less interchangeably. One meaning is the way that economists use the term, in which “deflation” means ... Read More
My guess is that if you asked Americans if their income taxes should be public information, the answers would mostly run the spectrum from “absolutely not” to “hell, no.” ... Read More
A standard pattern of long-term economic development is that a country goes through a period of higher savings and investment, along with correspondingly lower consumption levels. After the growth ... Read More
A short essay of mine titled “The Blurry Line Between Competition and Cooperation,” was published a month ago at the Library of Economics and Liberty website. I argued that ... Read More
Here’s a puzzle: During the Great Recession, the total contraction in economic output was noticeably larger in Germany than in the United States, but the rise in the unemployment ... Read More
India has a population of more than 1.2 billion, more than one-sixth of world population. A coupole of decades ago, economic growth started surging in India. For example, the ... Read More
Every basic exposition of how monetary policy is conducted before about 2008 is soon to become obsolete. The three basic monetary policy tools that used to be taught in ... Read More
One of the vivid lessons of the 2007-2009 recession and financial crisis is that in the modern economy, one can’t just think about the financial sector as made up ... Read More
Twenty years ago, when the Federal Reserve Open Market Committee wanted to change interest rates, it didn’t make any announcement. It just took action, and market participants observe those ... Read More
My knowledge of ancient Greek is not significantly different from zero, but every student of economics at some point runs into oikonomia, the root word from which economy and ... Read More
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