Hetzel Withholds Credit from Hawtrey for his Monetary Explanation of the...
In my previous post, I explained how the real-bills doctrine originally espoused by Adam Smith was later misunderstood and misapplied as a policy guide for central banking, not, as Smith understood...
View ArticleMattei Misjudges Hawtrey
Clara Mattei, associate professor of economics at the New School for Social Research, recently published a book, The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism,...
View ArticleT. C. Koopmans Demolishes the Phillips Curve as a Guide to Policy
Nobel Laureate T. C. Koopmans wrote one of the most famous economics articles of the twentieth century, “Measurement Without Theory,” a devastating review of an important, and in many ways useful and...
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My New Paper on Hawtrey Is Available on SSRN
Last fall and early winter I posted a series of four blogposts (here, here, here, and here) about or related to Ralph Hawtrey as I was trying to gather my thoughts about an essay I wanted to write...
View ArticleMy Article “Ralph Hawtrey: A Forgotten Pioneer of Macroeconomics” Has Been...
The published version of the article is now available on the Economic Afairs website https://onlinelibrary.wiley.com/toc/14680270/2024/44/2. Here’s the abstract: This article considers the...
View ArticleThought and Details on the Fiscal Theory of the Price Level
The Fiscal Theory of the Price Level has been percolating among monetary theorists for over three decades: Eric Leeper being the first to offer a formalization of the idea, with Chris Sims and Michael...
View ArticleHicks on Temporary Equilibrium
J. R. Hicks, who introduced the concept of intertemporal equilibrium to English-speaking economists in Value and Capital, was an admirer of Carl Menger, one of the three original Marginal...
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Grok, Karoline Leavitt and Me
Yesterday on Twitter, I commented on a Tweet referencing a comment by White House Press Secretary Karoline Leavitt about the meeting yesterday between Presidents Trump and Zelensky along with the...
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Hayek and Dworkin on the Meaning of Discretion
Here is a slightly edited text of the conversation I had this afternoon on ChatGPT that began with a question about comparing how Hayek and Dworkin understand the legal meaning of discretion. 3:54 PM...
View ArticleThe Monumental Dishonesty and Appalling Bad Faith of Chief Justice Roberts’s...
In light of Justice Alito’s opinion today in the consolidated cases Mullin v. Doe and Trump v. Miot, relying on the 2018 Trump v. Hawaii case, I am updating this post originally posted exactly eight...
View Article![Personal Investments • Re: 401k investments [which to choose?]](http://i.imgur.com/wA51OIw.png)
