ALL BLOG POSTS
Most of the blogging Market Monetarists have their roots in a strong free market tradition and nearly all of us would probably describe ourselves as libertarians or classical liberal economists who believe that economic allocation is best left to market forces. Therefore most of us would also tend to agree with general free market positions regarding for example trade restrictions or minimum wages and generally consider government intervention in the economy as harmful.
The latest book I have got in the mail is Georgina M. Gómez's "Argentina's Parallel Currency" about Argentina's experience with parallel currencies or what has also been termed Complementary Currency Systems (CCS).
One day George Selgin is picking a friendly fight with the Market Monetarists, the next day he is picking a fight with the Rothbardian Austrians. You will have to respect George for always being 100% intellectually honest and behaving like a true gentleman - something you can not always say about his opponents. His latest fight is over the old story of fractional reserve banking versus 100% reserve banking.
Allan Meltzer was one of the founding fathers of monetarism and he has always been one of my favourite economists. However, I must admit that that is no longer the case. His commentary over the last couple of years has had very little to do with monetarism. In fact most of Meltzer's commentary reminds me of "internet Austrianism". His latest comment in the Wall Street Journal is certainly not better, but it quite well illustrates his transformation from monetarist to crypto-Austrian. In fact I think it is too depressing even to comment on it (or link to it). However, David Glasner has a very good comment on Meltzer. I suggest you all read it.
Back in March I wrote this:
Anybody who have been following my blog knows how much admiration I have for George Selgin so when George speaks I listen and if he says I am wrong I would not easily dismiss it without very careful consideration.
Project African Monetary Reform (PAMR) - post 1
Here is Yale economics professor Stephen Roach:
Noah Smith has a new blog post where he questions Scott Sumner's idea that monetary policy should be conducted with the use of NGDP futures.
One of the great things about blogging is that people comment on your posts and thereby challenge your views and at the same time create new ideas for blog posts. Therefore I want to thank commentator Max for the following response to my previous post: