ALL BLOG POSTS
This is from MercoPress today (Saturday)):
Somebody today sent me the following quote from the front page of today's edition of the German business daily Handelsblatt (translated from German):
Around the world people today participate in May Day demonstrations (some call them 'celebrations') and in some countries it is even a public holiday. But why do people participate in May Day demonstrations? My good friend Professor Peter Kurrild-Klitgaard has the answer: It's the weather, stupid!
This is Argentine central bank governor Mercedes Marcó del Pont in an interview on March 26 2012:
I strongly believe that we can learn a lot about the present crisis from studying economic and monetary history. Particularly the study of the Great Depression should be of interest to anybody who is interested in the causes of the present crisis and how to get us out of the crisis.
I am going to Moscow in a couple of weeks. Going to Russia always inspires me to think about monetary policy in commodity exporting countries. I recently found what looks to be an interesting paper on monetary policy in commodity exporting countries - "Monetary Policy in an Economy Sick with Dutch Disease". The paper is from 2007.
Bryan Caplan has a very good blog post over at Econlog on "The Grave Evil of Unemployment" and on why free market economists should be deeply concerned about unemployment. I strongly agree with Bryan on this topic (and most other topics) - free market economists are often far too nonchalant about unemployment.
If we want to explain the Market Monetarist position on banking crisis then it would probably be that banking crisis primarily is a result of monetary policy, but also that moral hazard should be avoided and a strict 'no bailout' policy should be implemented. However, the fact that Market Monetarists now for example favour aggressive monetary easing in the euro zone, but at the same time are highly skeptical about bailouts of countries and banks might confuse some.