Other Schools of Thought
Displaying 331 - 340 of 2171
What “Lender of Last Resort” Is Supposed to Mean
Modern central banks have already moved far beyond what was once considered the proper role for a central bank as a "lender of last resort." Now Keynesians and MMTers want to take things even further.
Keynes and the Euthanasia of the Rentier
Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.
Oren Cass and the Conservative Critique of Pure Laissez-Faire
Bob Murphy and Oren Cass have a friendly discussion about their disagreements on economic policy.
Even When They’re Wrong, We Can Learn From Understanding Others’ Theories
Learning the history of economic thought is important not because every economist has been right, but because we can learn from their mistakes.
No, Technology Shocks Aren’t Behind Recurring Business Cycles
Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel laureates in economics think that technological shocks can explain 70 percent of economic fluctuations in postwar US data. Unfortunately their quantitative methods are simplistic and ignore the real problem: central banking.
The “Market Monetarists” and NGDP Targeting
A relatively new challenge to the Austrian framework comes from the “market monetarists” and their endorsement of a central bank policy of “level targeting” of nominal gross domestic product.
