A slightly off-center perspective on monetary problems.
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About
Welcome to a new blog on the endlessly perplexing problem of monetary policy. You’ll quickly notice that I am not a natural blogger, yet I feel compelled by recent events to give it a shot. Read more...
My name is Scott Sumner and I have taught economics at Bentley University for the past 27 years. I earned a BA in economics at Wisconsin and a PhD at Chicago. My research has been in the field of monetary economics, particularly the role of the gold standard in the Great Depression. I had just begun research on the relationship between cultural values and neoliberal reforms, when I got pulled back into monetary economics by the current crisis.
"The maim thing Summers doesn't mention or emphasize is that America's greatest economic wound is self-inflicted, in the form of legal restrictions on housing construction (see e.g. https://www.aeaweb.org/articles?id=10.1257/mac.20170388). We could..."
"If we believe that the Chinese leadership, both political and military, are rational, then they surely realize that actually invading Taiwan, like all speculative military adventures, have a high probability..."
"I agree with summers on everything except I'm not sure that the deficits will matter much because I saw some data that showed that affluent retirees do not spend down..."
