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Lee Kelly attracts some attention

Lee Kelly attracts some attention

Lee Kelly's recent guest post on my blog have created a bit of attention.

Economics is not an education. Economics is a state of the mind!

Economics is not an education. Economics is a state of the mind!

Some of the most clever economists I have encountered are actually not formally educated economists. In fact a number of Nobel Prize winners in Economics are not formally educated economists. One of my big heroes David Friedman is not formally educated as an economist, but to me he is certainly an economist - one of the greatest around. Another example is Gordon Tullock  who was trained as a lawyer, but he is certainly an economist - in fact to me Gordon Tullock is one of the most clever economists of his generation and it is a complete mystery to me that he has not yet been awarded the Nobel Prize in Economics. The way I perceive people's skills as economists has nothing to do with their formal education. To me Economics is not an education. Economics is a state of mind.

Guest post: Nick Rowe, Barter, and Free Banking (By Lee Kelly)

Guest post: Nick Rowe, Barter, and Free Banking (By Lee Kelly)

I have for some time wanted the young and talented Lee Kelly to write a guest post for The Market Monetarist. I am happy that he now has done so. Anybody who follows the market monetarist blogs will be familiar with Lee’s name and his always insightful comments.

The worst central banker in the world

The worst central banker in the world

Zimbabwean central bank governor Gideon Gono has long held the title as the worst central banker in the world. However, I would suggest there might be a new candidate - Argentine central bank governor Mercedes Marcó del Pont.

Boettke and Smith on why we are wasting our time

Boettke and Smith on why we are wasting our time

I am beginning to get a serious problem in keeping up with all the interesting papers, which are being published at the moment. The latest paper that I clearly have to read is a rather impressive paper (124 pages!) by Peter Boettke and Daniel Smith.

The Close Connection Between Evan Koenig and Market Monetarism

The Close Connection Between Evan Koenig and Market Monetarism

Evan Koenig - who is a long-time defender of NGDP targeting - is out with a new paper: "All in the Family: The Close Connection Between Nominal-GDP Targeting and the Taylor Rule"Evan of course is a Senior Economist and Vice President at the Dallas Fed.

Marek Belka suggests dual currency solution for Greece

Marek Belka suggests dual currency solution for Greece

In today's edition of Financial Times Deutschland Polish central bank governor and former Director of IMF's Europe department Marek Belka calls for Greece to introduce a dual currency system (See here). Belka clearly acknowledges in the monetary aspects of the European crisis including the Greek crisis.

Military dictators are independent as well...

Military dictators are independent as well...

Over the last couple of decades independent central banks have become the norm and it is seen as dangerous if politicians threaten the independence of the central banks. Judging from the short-termism of politicians this in many ways makes perfectly good sense and any modern economist would acknowledge that central bank independence is a good way to ensure a rules based monetary policy - contrary to they discretionary monetary policies normally dominating politicized central banks.

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