How many times have you heard someone say that the Federal Reserve’s asset-purchase program known as quantitative easing was ineffective? At least, that’s what I keep hearing from the usual pundits arguing their case.
Overcoming Our Inordinate Fear of Inflation
The harm of inflation cited in economics textbooks seems laughably unimportant. For example, inflation generates so-called shoe-leather costs — a term for the hassle of moving money from one’s brokerage or savings account to one’s checking account. This hassle is larger when prices change a lot, since you have to put spending cash in your wallet more often.
The New Old Economics of Free Trade World Wide
Does economics still believe in free trade? The discipline has urged the case for open markets since its earliest days, but lately not so much. Recent research is seen as calling the faith into question.
