Two Sets of Rules
I think my major problem with Mosler’s theories is that there are two sets of rules. The second set only applies to the the issuer of the fiat currency. I...
Category: economics
It’s Good to Be the King
I’ve been slowly reading Warren Mosler‘s theories since Zimran Ahmed pointed them out a few weeks ago. They are, to say the least, non-intuitive. Fr...
The Cost of Failure
Over the past month or so I’ve noticed more frequent mention of the cost of failure: what will happen if we don’t do this to save that. Explicit, or...
The $306 Trillion Bailout Plan
A couple of weeks ago, Zimran Ahmed tossed out the suggestion that the Federal government send $1 million to each person in the U.S. (Though he said “ever...
Lies We Learned in High School
For such a smart fellow, you’d think that Matthew Yglesias would not regurgitate the standard economic history of the Great Depression drummed into all of...
Four Years Too Many of College
Is a four-year college degree excessive for most? Charles Murray, writing at Cato Unbound, thinks a bachelor’s degree is unnecessary for most professions,...
Two Parties to Every Sale
I would like to point out to the audience watching the roller coaster on Wall Street that for every seller, there is a buyer.
Backed by the Full Faith and Credit of the United States
The key word there is faith.
But We Have to do Something!
There is a propensity for politicians, and in truth all of us, to act hastily when the times call rather for patience and calm. Sen. Charles Schumer (D-NY), in ...
Proverbs 15:27
The Big Brother and I were watching Madame Blueberry yesterday, and the moral of the story is, The greedy man troubles his own house.
Chicken Little
The sky is falling! The sky is falling! Or, what goes up, must come down. Oh, look! It went back up again!
Perceptions
The newspaper says there’s a problem, but is there really? via Tom Palmer, David Cay Johnston wonders the same thing. In a letter to his fellow journalist...
Depression
(some observations, which I’ll hopefully clean up and form into a coherent post) Some say the financial crisis is a market failure, fixable by regulation;...
When Pigs Fly
I tend to agree with Greg Mankiw — more generally with Arthur Pigou — on his recommendation to increase certain taxes in order to cover the external...
Internal Improvements
I read in The Poughkeepsie Journal the other day that Dutchess County is considering widening 1.8 miles of Noxon Road, and that the project requires Federal app...
Foreign Oil Slicks
The speakers at the Republican convention are harping on exploiting domestic energy sources in order to reduce our dependence on foreign sources of oil. Because...