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Check your expectations (3) Milton Friedman not going far enough

April 15, 2013 – 10:30 am

Milton Friedman’s 1967 Presidential Address (pdf) is something monetary economists regularly say anyone interested in monetary economics should read. Having recently read it, I have come to the conclusion that it is something anyone interested in monetary economics should read. As is normal with Friedman, it is beautifully clear, one his great attributes. His analysis holds [...]

By Lorenzo | Posted in Economics, Public Policy | Also tagged central banks, Chuck Norris Effect, David Glasner, Edmund Phelps, equation of exchange, expectations, Goodhart's Law, Inflation, inflation targeting, interest rates, Irving Fisher, Knut Wicksell, Lars Christensen, Market Monetarism, milton friedman, monetary economics, monetary policy, monetary velocity, natural rate of interest, natural rate of unemployment, Phillips Curve, Scott Sumner, stagflation, unemployment | Comments (1)

Storytellers and moralists

January 19, 2013 – 6:40 am

If you’re going to win an argument or persuade someone to your point of view, it helps if you can tell a story. And by this I don’t mean any old story, but the sort of story that kept you awake at night as a kid, or made you cry, or made you afraid to [...]

By skepticlawyer | Posted in Books, Economics, Law, Saturday chit-chat | Also tagged A Christmas Carol, Andrew Norton, Carl Sagan, Charles Dickens, Free to Choose, Jane Goodall, John Milton, Paradise Lost, richard dawkins, Road to Serfdom, Salman Rushdie, Steven Horwitz, Steven Levitt, Steven Weinberg, Sweatshop labour, The Undercover Economist, tim harford, Tyler Cowen | Comments (12)

Friedman centenary

July 31, 2012 – 5:39 pm

Today (Tuesday 31st) is Milton Friedman’s centenary. It seems appropriate to link to some Milton Friedman quotes here and here. Various bloggers have offered their comments, including Bryan Caplan’s ode, Tyler Cowen notes how much he is still needed, Lars Christensen writes him a letter, and David Glasner continues his campaign against the Wall St [...]

By Lorenzo | Posted in Academia, Drugs, Economics, Education, Public Policy, Welfare | Also tagged Bryan Caplan, David Friedman, Friedrich Hayek, John Maynard Keynes, Lars Christensen, milton friedman, Tyler Cowen | Comments (4)

Debt and boom

July 19, 2012 – 11:02 am

The slogan for this post is: don’t think debt, think safe assets. (This post is partly provoked by this post by Paul Krugman responded to by Scott Sumner and by Marcus Nunes.) In my Debt, Doom and Despair post I noted that a hugely debt-burdened post-Napoleonic Wars UK (where the national public debt was probably about [...]

By Lorenzo | Posted in Australia, Britain, Economics, History, Public Policy, Taxation, Technology, Welfare | Also tagged Alfonso IX, Bank of France, Bank of Japan, Edward I, Ernest Gellner, Eurozone, Evan Soltas, foreign aid, GFC, ibn Khaldun, japan, Marcus Nunes, Napoleonic Wars, paradox of politics, public debt, risk, Scott Sumner, US Federal Reserve | Comments (3)