Mainstream economics’ medieval inflation medicine
When assessments of the quasi-inflation of 2021-22 appeared in major US media outlets this month, the prognosis was good: the fever has receded and may already be gone. The latest reports on personal...
Why mainstream economics misjudged inflation
In his November 7, 2023, New York Times newsletter, economist Paul Krugman raises a pertinent, albeit belated, question: Why did so many economists misjudge the inflation outlook? Despite the...
The debt ceiling is a red herring
In his bid to become Speaker of the US House of Representatives, Kevin McCarthy apparently agreed to a demand, voiced by Representative Ralph Norman of South Carolina, that he commit to “shut down...
The Fed waves its wand
According to economist Kenneth Rogoff of Harvard University, “a growing crescendo of commentary places the blame for the current surge in US inflation squarely on the Federal Reserve”. His...
The case for strategic price policies
With a single commentary in The Guardian (and an unintended assist from New York Times columnist Paul Krugman), economist Isabella Weber of the University of Massachusetts injected clear thinking into...
Whipping up US’s inflation bogeyman
The headline chosen for Harvard economist Jason Furman’s November 15 commentary in the Wall Street Journal was both apt and sad. It was apt, because it repurposed then-President Gerald Ford’s...
A Casablanca for academic conservatives...
Pity the academic conservative. Having enjoyed tenure at Harvard University, the London School of Economics, and New York University, and now a steady gig at Stanford’s Hoover Institution, the...