ALL BLOG POSTS
Alex Salter has made a forceful argument that there are strong theoretical similarities between Market Monetarist thinking and Austrian School Monetary Equilibrium Theorists (MET). I on my part have noted that METs like Steven Horwitz have similar policy recommendations as Market Monetarists - particularly NGDP targeting.
I have noticed that a increasing number of 1980s US supply siders are coming out views on US monetary policy which is very close to the Market Monetarist views. This is not really surprising if one studies what the supply siders were saying in the 80s, but it is nonetheless in stark contrast to the core views of today's GOP.
As the Euro zone crisis continues to escalate and European policy makers are trying to avoid that the Greek sovereign debt crisis develops into a European wide banking crisis it might be an idea to study history. The Great Depression gives us many insides to what to do and what not to do to avoid crisis.
Here is a quote from a random article from the financial media in 2008:
I have often been critical about Alan Greenspan's economic thinking, but listen to this Interview on CNBC. It is pretty good. Greenspan talks about the international financial linkages - particularly between the US and the euro zone. He makes a lot of sense (other than some odd cultural references, which the rather uneducated reporters just go along with...)
When I wrote my book on Milton Friedman (sorry it is in Danish…) a decade ago I remember that the hardest chapter to write was the chapter on Friedman’s methodological views. It ended up being a tinny little chapter and I was never satisfied with it. The main reason was that even though I was and continue to be a Friedmanite in my general (macro) economic thinking I did not agree with Friedman methodological views.