Why Deficits Matter
The US is experiencing the strongest price pressures in 40 years. Financial and economic commentators are searching frantically for the...
Alexander W. Salter
Some Frustrating Economics in the Wall Street Journal
For students of monetary policy, yesterday’s Wall Street Journal has two articles that deserve particular attention. The first is a...
Supply and Demand Is Not Just for Microeconomics
Supply and demand is the heart of economics. It’s essential for understanding nearly everything economists care about. Market prices and...
Three Common Myths About Money and Inflation
Inflation is one of the most studied phenomena in economics. We have a pretty good idea of where it comes...
Inflation and Consumer Welfare: Don’t Forget the Supply Side!
Inflation remains elevated. The market doesn’t anticipate it will stay high for very long. But the abnormal price hikes we’ve...
Constituting Constitutional Economics
Last time we framed the quest for good governance as constitutional political economy in action. Now we’re going to explore...
The Great Inflation Debate Is Missing Why Inflation Matters
The battle between inflation hawks and doves is heating up. The year-over-year change in the Consumer Price Index is 5.4%,...
Is Inflation Really a Problem?
Inflation is the current hot topic in macroeconomics, to the extent anything in macroeconomics can be “hot.” Financial, economic, and...
Enough About Interest Rates!
Monetary policy isn’t about interest rates. It’s about money. Specifically, it’s about the supply of money relative to the demand...
Reining In the Fed
A specter is haunting the Federal Reserve: the specter of political activism. It’s no secret that something strange is happening...
