After reading Steve Waldman's post, something along the lines of Scott Sumner's post title and response was going through my mind: In a world of IOR, the QTM still holds
Scott further explains his (misunderstood) stance to drop employment as a threshold: All is Lost
How does the recent crisis compare to that of 1907? Scott's thoughts on a recent talk by Bernanke:
Bernanke on the 1907 crisis
This post generated some interesting discussion: Is economics (mostly) the study of public policy?
If "words don't get in the way", AS and AD might have something in common:
A Socialist Worker organization analyzes Madison, Wisconsin
Even though the Eurozone has not been at the zero bound, it's been quite close: Paul Krugman on the Euro-depression
Don't like QE? Okay...what's your counterfactual? A view from the trenches
Banks "heart" government. Government "hearts" banks. With "friends" like these...The consequences of tight money go far beyond unemployment
Is "less bounce" a good thing? (Marcus Nunes) :
Marcus provides highlights from Brink Lindsey's recent policy paper for Cato, and also a recent post from Britmouse:http://thefaintofheart.wordpress.com/2013/11/07/theres-been-a-lot-of-growth-downgrading-lately/
A new paper on aggregate supply in the U.S. is linked in this post:
1907 - a harder drop, but a faster recovery: http://thefaintofheart.wordpress.com/2013/11/08/i-would-welcome-1907/
Three possibilities for the Fed's Board of Governors: http://thefaintofheart.wordpress.com/2013/11/10/what-a-treat/
In a guest post for Marcus, Benjamin Cole looks at the feasibility of central banks adapting to the ZLB: http://thefaintofheart.wordpress.com/2013/11/12/can-independent-central-banks-adapt-to-zlb-probably-not/
An extensive list of development indicators from the World Bank prompts Nick Rowe to consider long run private debt/GDP ratios: http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/11/what-determines-long-run-private-debtgdp-ratios.html
What is rational, and what is not? http://worthwhile.typepad.com/worthwhile_canadian_initi/2013/11/naive-vs-rational-expectations-is-a-partly-false-dichotomy.html
Is land more valuable than money?
James Pethokoukis looks at some of the confusion surrounding QE and Janet Yellen:
Ryan Avent examines a new Fed paper which has generated considerable interest, in "On Escaping the Zero Lower Bound":
David Beckworth asks, why have Republicans not understood the potential of monetary offset?
It began as an aggregate demand problem, and gradually became an aggregate supply problem:
Being a dove doesn't exactly mean one expects full employment, does it? Bill Woolsey responds to the linked Miles Kimball post: http://monetaryfreedom-billwoolsey.blogspot.com/2013/11/efficiency-wage-it-doesnt-make-sense.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MonetaryFreedom+%28Monetary+Freedom%29
Lars Christensen still has hope for the Euro Zone:
Better communication is needed for the Czech central bank:
The ZLB is too close for comfort: http://marketmonetarist.com/2013/11/13/tick-tock-here-comes-the-zero-lower-bound-again/
David Glasner completes the series on Hawtrey with these two installments. Anyone who does research on Hawtrey will find this series of posts to be quite a treasure trove:
Janet Yellen is well aware of what happened in 1937 (JP Koning):
Also of interest:
Don't like something? Disdain still is not the logical reason to do something about it.
Creative destruction has fallen since the early 2000s (Brian Caplan):
An interesting Atlantic article: http://www.theatlantic.com/health/archive/2013/11/how-the-brain-creates-personality-a-new-theory/281287/
I took the test and have more active lower brain or "perceiver mode". That means, by definition, I'm generally not the type to initiate detailed or complex plans. Heh...oh well!
For those who are concerned about prisons in the U.S.