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Free Banking theorists should study Argentina's experience with parallel currencies

Free Banking theorists should study Argentina's experience with parallel currencies

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).

Selgin just punched the 100-percent wasp's nest again

Selgin just punched the 100-percent wasp's nest again

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.

Meltzer's transformation

Meltzer's transformation

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.

You might know the words, but do you get the music?

You might know the words, but do you get the music?

Back in March I wrote this:

Selgin's challenge to the Market Monetarists

Selgin's challenge to the Market Monetarists

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)

Project African Monetary Reform (PAMR)

Project African Monetary Reform (PAMR) - post 1

Imagine that a S&P500 future was the Fed's key policy tool

Imagine that a S&P500 future was the Fed's key policy tool

Here is Yale economics professor Stephen Roach:

Noah Smith should ask why stock markets are volatile

Noah Smith should ask why stock markets are volatile

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.

Is monetary easing (devaluation) a hostile act?

Is monetary easing (devaluation) a hostile act?

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:

The Fed can hit any NGDP target

The Fed can hit any NGDP target

I hate getting into debates where different bloggers go back and forth forever and never reach any conclusion. I am not blogging to get into debates, however, I must admit that Steven Williamson's recent posts on NGDP level targeting have provoked me quite a bit.

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