David Beckworth gives some reason to believe that Hayek would have supported QE2. And Scott Summers make the case for believing Hayek would have supported monetary easing in Europe.
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Ruchir Sharma on the public turn against the Fed. Quotable: monetary activism suffers from the same fundamental flaw as Keynesianism, in that it protects inefficient players instead of injecting renewed vigor into the economy. In a telling statement of the Fed’s thinking, New York Fed member Brian Slack recently said that, with luck, quantitative easing . . . → Read More: “THE TRIUMPH OF HAYEK”
This act is getting old, and ever more pathetic.
Paul Krugman attempts to play in the big leagues. Quotable: There is a lot of relevant work that Eggertsson and Krugman are unaware of, or are ignoring. Bruce Smith spent his career working on models of credit market frictions in monetary frameworks. I [Stephen Williamson] have work closely related to Bernanke-Gertler, and predating it (including . . . → Read More: WITH THE ACADEMIC EQUIVALENT OF A GHOST WRITER
15% of postal carriers in the U.S. have a college degree.
It looks like Google has blackballed me again — and once again it I can only assume they are doing so for writing posts about Obama’s Marxist background. Google Search almost immediately delisted my “PrestoPundit” website from its search engine when I posted on Obama and the inspiration he derived from his socialist father. And . . . → Read More: BLACKBALLED BY GOOGLE
100 years of the Federal Reserve — an assessment (pdf).
A dialogue by Scott Sumner:
“The Hayek Rule: A New Monetary Policy Framework for the 21st Century”, (pdf) by Marius Gustavson and Anthony Randazzo Nov. 9, 2010. Quotable: “We propose a new policy framework for monetary policy, one that looks at monetary aggregates and factors in the connections between monetary policy and asset prices. Our proposed “Hayek rule” is a . . . → Read More: THE HAYEK RULE — A NEW MONETARY FRAMEWORK
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