NGDP targeting

Kurt’s recent post on NGDP targeting just happens to come right on time to introduce one I’d been contemplating concerning the connection between such targeting and free banking. While many readers may suppose the two things to represent alternative, if not antagonistic, approaches to monetary reform, I…

The post Friday Flashback: Free Banking and NGDP Targeting appeared first on Alt-M.

In the first, 1922 edition of Money, his own now-classic primer on monetary economics, the great Dennis Robertson included a chapter he called “Money in the Great Muddle,” about the blow World War I dealt to England’s once (relatively) rock-solid monetary system, and to other monetary arrangements…

The post A Monetary Policy Primer, Part 8: Money in the Latest Great Muddle appeared first on Alt-M.

Sebastian Mallaby’s biography of Alan Greenspan does just about everything right. Despite its length, it’s eminently readable. Yet there’s nothing superficial about it: Mallaby seems no less comfortable with economics than he is with English, allowing expert monetary and macro-economists to join non-expert readers in both enjoying and…

The post The Man Who Blew appeared first on Alt-M.

Earlier this month a crowd of over a hundred and fifty gathered at George Mason University’s Arlington Campus for an academic conference co-hosted by the Mercatus Center and the CMFA. The conference, “Monetary Rules for a Post-Crisis World,” featured leading monetary economists, Washington’s top financial journalists, and…

The post Monetary Rules for a Post-Crisis World appeared first on Alt-M.

Russ Roberts interviewed David Beckworth at the Cato Institute Thursday, May 19th, for a “recorded live” edition of his podcast series, EconTalk.  The final version of the podcast, along with video, was recently released.  Beckworth and Roberts mostly discussed the Fed and the Great Recession.  Towards the end of the conversation,…

The post EconTalk LIVE at Cato, ft. David Beckworth appeared first on Alt-M.

CMFA Director George Selgin recently appeared on David Beckworth’s new podcast series, Macro Musings.  Selgin and Beckworth primarily speak about the “productivity norm,” the idea that changes in the price level should mirror changes in productivity.  The productivity norm is one version of a monetary policy that stabilizes spending, the…

The post Macro Musings Podcast with George Selgin appeared first on Alt-M.

I often find myself described, not as a monetary economist, plain vanilla or otherwise, but as a “free banker,” and (therefore) as someone who wants to “abolish” the Fed.  Yet I’ve also been accused of lacking consistency, and even of being an outright apologist for monetary central planning, because I…

The post On Free Banking, Monetary Rules, and Crusades appeared first on Alt-M.

The FOMC decided last week against raising interest rates given its concerns about the global economy and financial conditions.  While these concerns are reasonable, the FOMC’s decision highlights a growing problem that has increasingly plagued the Fed since the crisis erupted: its incredibly ad-hoc approach to monetary policy. Just a few…

The post End the Fed’s Guessing Game appeared first on Alt-M.

Driverless Money

Last week I happened to be contemplating a post having to do with driverless cars when, wouldn’t you know it, I received word that the Bank of England had just started a new blog called Bank Underground, the first substantive post on which had to do with — you guessed…

The post Driverless Money appeared first on Alt-M.