Among other things, "A gold standard would make deficit spending much more expensive."
Miles Kimball responds to Politico.
How did Hayek come to write The Road to Serfdom? Bruce Caldwell provides historical context which is also timed with the 75th anniversary of this well known book. Caldwell notes that "After Road, the burden is on those who argue for socialism to say exactly what they mean by the term, how it would work, and why it is not susceptible to the problems Hayek identified."
Do increasing markups matter?
Is there a market for neighborhoods?
1931 was an important year for the German banking crisis.
The best way to think about low interest rates is as an outcome, not a tool.
Furthermore, negative rates are a bad outcome.
Summer teen employment has gradually been drifting downward.
Noah Smith considers the Baumol effect.
States aren't the only problem, when it comes to authoritarianism. "The conceit is that we have little to learn from ordinary people and the adaptations they have developed within different social contexts."
"Having easy access to a large number of trading partners is an important determinant of where economic activity is located."
It turns out that self checkout encourages shoplifting.
The Milken Institute reviews "Priced Out", Uwe Reinhardt's last book.
Scott Alexander reviews Secular Cycles.
A new contract of "honesty, openness and willingness to accept responsibility."
What do we even mean by progress? The fact everyone has different answers, suggests a more decentralized and exploratory approach.
A switch to "free" higher education would mean other changes as well.
Stephen Gordon provides some thought provoking graphs on changes in real wages.
Alfred Marshall on the socialists of his time.
More gold standard discussions:
John Cochrane explains why the idea of reviving a gold standard is misguided.
George Selgin weighs in.
And from Frances Coppola (2013)
As Hayek emphasized sometimes change is uncomfortable. Embrace it anyway.
Giles Wilkes recently started blogging again, here he suggests it's time for macro economics to become political once more.
An account of Hayek's The Constitution of Liberty.
It turns out Starbucks customers are providing their company with free debt.
Much of the dollar's strength is due to the U.S. financial role in the global financial system.
Frances Coppola also notes the high price of dollar safety.
"The Atlas of Economic Complexity"
Peter Boetkke explains how Applebaum's NYT article blaming economists actually aims at the wrong target. Boetkke also includes a link to an article from Gregory Mankiw, "The Macroeconomist as Scientist and Engineer", written prior to the Great Recession.
Do "utility monsters" distort redistribution incentives? I would add that utility has more meaning with a non discretionary framework as a starting point.
A review of Kenneth Arrow's most important work.
Some writing tips.
Platforms can - and do - implode.
Superintelligence no longer has the public facing discussions which existed a decade earlier. How has it fared?
"It is often argued that the U.S. could cut its trade deficit by restricting imports and increasing exports. But this would seriously restrict dollar liquidity in the world."
Also, The global economy still depends on government debt - particularly that of the U.S. - as a source of safe assets.
Utah has approved a pilot for non-traditional legal services.
Scott Sumner explains some connections between trade wars, monetary policy and the business cycle.
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