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Abstraction & Reality
Brad DeLong alleges that critics of fractional reserve banking and fiat money suffer from (at best) a mental disorder (or, at worst, anti-semitism). From Brad DeLong: I think that the deep point of...
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QE Infinity
A lot of hot air has shot about the internet about nominal GDP targeting, the brainchild of Scott Sumner. Some (including the usual suspect) have said that it’s Bernanke’s next big bazooka in the...
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Negative Real Interest Rates
Paul Krugman thinks negative real interest rates are a policy tool to stimulate recovery: To preview the conclusions briefly: in a country with poor long-run growth prospects – for example, because of...
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Zombification & Gold
From Bloomberg: Japanese Finance Minister Jun Azumi will be rewarding investors who buy more than 10 million yen ($129,000) in reconstruction bonds with gold in the government’s latest attempt to...
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Whitewashing the Economic Establishment
Brad DeLong makes an odd claim: So the big lesson is simple: trust those who work in the tradition of Walter Bagehot, Hyman Minsky, and Charles Kindleberger. That means trusting economists like Paul...
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The Real Testosterone Junkies
I especially enjoy reading things that I disagree with, and that challenge my own beliefs. Strong ideas are made stronger, and weak ideas dissolve in the spotlight of scrutiny. People who are unhappy...
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Do Creditors Exploit Debtors, or Vice Versa?
I’m asking this question because I think a proper understanding of the answer is a giant leap toward grasping the geopolitical realities of the relationship between America and China. This discussion...
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