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Investing
The distinguished contributors to Populism and the Future of the Fed examine populist demands to expand the Fed’s mandate and the threat to the...
Investing
(Although my contributions to this series have so far been more-or-less in their proper order, this one isn’t: it occurred to me only relatively...
Investing
In a thought-provoking article published by the IMF in April, Ruchir Agarwal and Miles Kimball argue for moving away from a “paper money standard”...
Investing
Although I’ve devoted many essays here to exploding myths about historical private currencies, there’s one I’ve yet to directly challenge. That’s the belief that...
Investing
(From the entry on “Money,” by Charles Francis Bastable, in the famous 11th edition of the Encyclopedia Britannica): The very large number of the...
Investing
Today, inflation has reached a 40-year high, in response to fiscal profligacy and accommodative monetary policy. Direct cash payments to individuals and businesses in...
Investing
Thanks to the Roosevelt Recession, in the spring of 1938 the New Deal’s “Keynesians” finally found themselves in the saddle, displacing the planners, reformers,...
Investing
In assessing the possibility that a severe downturn occurred at the end of WWII, I took issue with conventional wartime and postwar output statistics,...
Investing
It was supposed to be a debacle. As the Second World War drew to a close, the nation’s leading economists feared that, once the...
