Lars Christensen notes real progress in the recent ECB policy announcement: http://marketmonetarist.com/2015/01/23/draghis-framework-a-step-in-the-right-direction/
David Glasner gives Nick Rowe a "hard time" about his recent Friedman post! http://uneasymoney.com/2015/01/22/nick-rowe-goes-bonkers-over-milton-friedman/
Nick Rowe provides Hume's "Of Money" in comments, and Glasner responds: http://uneasymoney.com/2015/01/25/did-david-hume-discover-the-vertical-phillips-curve/
It's almost impossible to know, how a change in the rate of inflation affects unemployment: http://uneasymoney.com/2015/01/27/the-near-irrelevance-of-the-vertical-long-run-phillips-curve/
In 2011, spending growth shifted down (Marcus Nunes) https://thefaintofheart.wordpress.com/2015/01/21/canadian-blues-when-will-they-learn/
This "victory speech" wouldn't have any validity, either: https://thefaintofheart.wordpress.com/2015/01/21/i-want-i-want-and-i-want-to-raise-rates/
Fiscal policies never fulfilled their "promise": https://thefaintofheart.wordpress.com/2015/01/22/from-the-samuelson-sampler-to-sumner/
If monetary policy can't be used...https://thefaintofheart.wordpress.com/2015/01/22/germanys-reluctance/
Needed: a simpler picture of the world: https://thefaintofheart.wordpress.com/2015/01/25/three-interrelated-quotes/
https://thefaintofheart.wordpress.com/2015/01/26/the-board-keeps-mum-the-regionals-play-tug-owar/
Marcus provides a quote from a paper by Douglas Irwin on Gustav Cassel's Analysis of the Interwar Gold Standard
Unemployment benefits or no, labor markets need to be thought through more directly: https://thefaintofheart.wordpress.com/2015/01/27/data-for-me-data-for-you/
Today, monopoly power is discussed in terms of output and employment reduction (Nick Rowe): http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/01/does-monopoly-power-cause-inflation.html Nick also links to Friedman's "The Role of Monetary Policy"
For Canadians, the exchange rate is more important than the interest rate: http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/01/interest-rates-exchange-rates-and-the-bank-of-canada.html
His stance is close to that of Krugman (Scott Sumner): Kevin Drum on Market Monetarism
One trillion is more than the market expected: The ECB finally acts
A new consensus developed in the Clinton years, only to be lost in the Great Recession: American liberalism, circa 2007
Some Econlog posts from Scott:
The Keynesian shell game
Monetary offset: reply to my critics
Beliefs and value sets aren't matching up very well...Stone Age Economics
(Benjamin Cole) Would David Beckworth's idea work for the Swiss? https://thefaintofheart.wordpress.com/2015/01/23/monetizing-tax-revenues-a-new-calling-for-central-banks/
It could have been worse, but...https://thefaintofheart.wordpress.com/2015/01/26/who-can-blame-greek-voters/
(Robert Hetzel) The idea of a liquidity trap is not at all helpful: http://www.cato-unbound.org/2011/12/12/robert-hetzel/tim-congdon-liquidity-traps-vs-portfolio-rebalancing
George Selgin defends the nominal target in a Cato article: http://www.cato.org/blog/fed-should-quit-making-interest-rate-promises
Home values as risk adjusted deadweight loss? (Kevin Erdmann) http://idiosyncraticwhisk.blogspot.com/2015/01/housing-tax-policy-series-part-1-i-was.html
Ben Southwood highlights and comments on a paper from Nicholas Cachanowsky - NGDP Targeting: Hayek's Rule
From the risks of the world stage, to the portfolio (Ravi Varghese) http://insecurityanalyst.blogspot.com/2015/01/our-world-of-risk.html
Also of interest:
James Caton details basic economic elements in this post, according to Carl Menger
Responses to CBO Outlook 2015 to 2025. Timothy Taylor notes the stability of the budget over time, and David Wessel says the real issue is that the CBO is growing steadily gloomier about the capacity of the U.S. economy to grow. Of course readers know how I feel about this. Monetarily compensate people, for finding meaningful ways to assist one another in coordinated time. Create local investment strategies to augment the time use base. Mass produce building components, size and simplify them so that even relative "weaklings" can take care of their own environments.
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