Discount code for my new book

I received this information:

Customers can get a 20% discount (bringing the price to $28 before shipping) when they purchase the book from press.uchicago.edu and enter the code SUMNER20 at checkout. I have that set to run through the end of the year.

Not sure if that’s the best deal, but I thought I’d put it out there.

Also, I did a podcast with Larry White where I discussed the book. It was just released.

I also have a new column at The Hill.


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26 Responses to “Discount code for my new book”

  1. Gravatar of Michael Rulle Michael Rulle
    9. September 2021 at 11:29

    Meant to mention I saw that—but as of yesterday still cannot buy it—will check again soon.

  2. Gravatar of Rajat Rajat
    9. September 2021 at 17:09

    Thanks, Scott. Dumb question for you or anybody – does ‘cloth’ format refer to hardcover?

  3. Gravatar of ssumner ssumner
    9. September 2021 at 17:50

    Rajat, Yes.

  4. Gravatar of Rajat Rajat
    9. September 2021 at 21:03

    Thanks. It was a lot cheaper than Amazon Australia, but that doesn’t mean much. Amazon UK was a bit cheaper to deliver to Australia than UChic, but I’ve stuck with the source and am hoping they throw in a UChic bookmark 🙂

  5. Gravatar of Tom Brown Tom Brown
    10. September 2021 at 09:22

    Nice Scott. Thanks.

  6. Gravatar of Russ Abbott Russ Abbott
    11. September 2021 at 07:59

    I went through the order process at U. Chicago Press but aborted when they added a $7 shipping charge at the end. Amazon was cheaper, even without the 20% credit.

  7. Gravatar of vak vak
    13. September 2021 at 10:59

    Hi Prof,

    Will there be a kindle version? Thanks!

  8. Gravatar of Vahid Vahid
    14. September 2021 at 11:37

    purchased. I have followed your scholarship for a while and love the blog. looking forward to the book. Congrats.

  9. Gravatar of David S David S
    14. September 2021 at 14:27

    I too have enriched Jeff Bezos with this purchase. Can you give us a blog thread where we can post comments on it?

  10. Gravatar of ssumner ssumner
    14. September 2021 at 18:43

    David, How about here?

  11. Gravatar of rinat rinat
    15. September 2021 at 09:10

    I’m an old economist,
    the great and almighty,
    the people are so lucky to have me,
    because I bring them wealthy bounty.

    I’m a young person, authentic and true
    The economist is the greatest threat to my towns milieu
    He plays with his numbers like a fiddle,
    and sends my jobs abroad to someone else for a little
    He keeps those MNC profit margins high,
    while destroying my life from up on high

    I’m an economist, I’m so cool
    I have no idea what I’m doing
    but I like to pretend I do.
    I quack and quack
    and send more jobs abroad
    I practice quackery
    and let the little slob sob.

    Why won’t they just stop playing around,
    my kids can’t eat, and my family has a frown.
    When will they realize that we are losing this war
    and bring back our jobs to help the poor.

    Open markets, they are so great
    we expect you to open, or our banks army will invade.
    simply play along with the open market game
    let us plunder you, and enjoy your new found fame

    get rich, fuck the poor, I love profit margins,
    I’m an economist, the greatest of the charlatans.
    mechanization and centralization is what I do,
    until I destroy your little towns milieu.
    Collective, collective, let yourself grow
    and then strike down that pathetic individual
    don’t like it, then tough, I’ll use my banks army to beat you to a pulp
    until you give up and follow my mandates with a big gulp.

    Oh, these economists, these abusive filthy scoundrels
    how do we get rid of them so we can return power to the founders.
    I don’t know old man, but the tyranny is increasing
    how long can we live with these disgusting little leeches
    Let’s make a plan to destroy these centralized actors,
    and then live in peace and harmony with tea, crumpets, and crackers.

  12. Gravatar of Bill Foster Bill Foster
    15. September 2021 at 20:10

    Scott, as per Vak’s comment, can you put up a kindle version please. Getting a hardcopy delivered globally is a bit problematic in these logistically stressed Covid times…
    Thanks.

  13. Gravatar of ssumner ssumner
    16. September 2021 at 06:28

    Bill, I’m told there will be one, but am not sure when.

  14. Gravatar of David S David S
    16. September 2021 at 15:18

    One big thing the book proves is that the books are still better than blogs. And, Scott is an optimist, despite his occasional grumpiness on this blog and the other one. There is the frustration that the lessons that were learned after 2008-2009 did not need to be learned again. So it goes.

    I won’t feel bad if I don’t understand everything. The only way to simplify monetary policy is to return to a barter economy, but I bet even barter economies had inflation and recessions.

    There’s a minor typo on page 8.

  15. Gravatar of Rajat Rajat
    16. September 2021 at 20:30

    Stephen Kirchner has written a nice post on his Substack commending Scott and both his books: https://stephenkirchner.substack.com/p/market-monetarism-10-years-on

    David S, Nick Rowe made his blogging name explaining why pure barter economies don’t have (demand-side) recessions! (Or inflation I would think…) In fact, he used barter as a counterpoint to explain what makes money so important to macroeconomic cycles.

  16. Gravatar of David S David S
    17. September 2021 at 05:39

    Rajat, thanks for the reference to Nick Rowe–which happened to lead me to some old Brad Delong posts, so that’s a win-win. Just to be clear, I don’t want a barter economy under any circumstances. George Miller did a good job of visualizing what that looks like in some of his films.

    And just to test my understanding of thing in your part of the world did the RBA fail on policy between 2015-2019? What I gather from the shallow dive I just took into that subject they chased the inflation bogeyman for too long. Unemployment consequently stayed higher than it would have under a more enlightened policy. Smackdowns welcomed.

    Hope you enjoy our submarines.

  17. Gravatar of Ray Lopez Ray Lopez
    17. September 2021 at 10:19

    I wonder if our host will opine on this below news? Panda huggers and Sino-apologists, who still refuse to acknowledge the C-19 virus is most probably man-made. As commentator Ben Cole stated, it’s rare to have a virus that jumps species as readily as does the C-19 virus, unless it’s from a bio-weapons lab.

    Today’s news: The World Bank canceled a report rating the business environment of the world’s countries after an inquiry concluded that senior bank management pressured staff to alter data affecting the ranking of China and other nations.

  18. Gravatar of ssumner ssumner
    18. September 2021 at 14:05

    Rajat, Thanks for the link.

  19. Gravatar of Frank Conte Frank Conte
    19. September 2021 at 03:56

    Scott,

    My copy arrived earlier this week and yesterday I finished it. Great job. I would be interested in reading what your peers have to say about the bold recommendations.

    Describing you book as “thought-provoking” is an understatement. As a non-economist I’m eager to give it a second read.

    Cheers

    FC

  20. Gravatar of Rajat Rajat
    19. September 2021 at 04:02

    Hi David S, I wouldn’t say the RBA chased the inflation bogeyman for too long. Rather, the RBA made a deliberate and explicit decision to return inflation to target more slowly than it could have in, in order to preserve ‘financial stability’. Here’s Governor Philip Lowe in mid-2019:

    “As you know, in the end the Board did not adjust interest rates through this period [late 2016 to late 2018]. It judged that seeking to achieve a faster return of inflation to the midpoint of the target range would have been accompanied by more rapid growth in debt, at a time when household balance sheets were already very extended. Our judgement was that, given the progress that was being made towards our goals, it was appropriate to use the flexibility in our inflation target to pursue a course that was more likely to be in the country’s long-term interest. We could have generated a bit more inflation, but we would have had faster growth in household debt as well.

    “I acknowledge that others might see this trade-off differently. But given the unemployment rate was coming down and inflation had lifted from its trough, we did not see a strong case for monetary easing.”

    https://www.rba.gov.au/speeches/2019/sp-gov-2019-07-25.html

  21. Gravatar of ssumner ssumner
    19. September 2021 at 09:07

    Thanks Frank, I greatly appreciate that.

    Rajat, I agree that the RBA was a bit too tight during the 2010s, but overall the performance of Australis’s economy still looks pretty good, right?

    https://tradingeconomics.com/australia/unemployment-rate

    It’s looks to me like without Covid the post-1991 expansion would still be in place.

  22. Gravatar of Frank Conte Frank Conte
    19. September 2021 at 11:24

    Scott:

    Much of your argument rest on the Federal Reserve reaching NGDP by sticking to a market forecast, the market forecasts 4 percent the Fed should use its tools to reach that target

    I have two questions.

    1) How reliable is that forecast? Upon what does it rest?
    2) Since most believe that the Fed should have great discretion, which I understand you believe it should have — how to you tie the Fed to the “accepted” forecast? In other words how do you keep them from hearing the Sirens?

    Frank

  23. Gravatar of ssumner ssumner
    19. September 2021 at 11:42

    Frank, I think the best approach is my “guardrails” proposal, where the Fed commits to take unlimited long or short positions on NGDP futures at some specified points, say 3.5% and 4.5% NGDP growth.

    They can still use discretion, but if speculators are piling up with lots of short bets at 3.5% or long bets at 4.5%, the Fed is taking a risk to ignore the market. The wider the guardrails, the more discretion you are giving the central bank.

  24. Gravatar of Rajat Rajat
    19. September 2021 at 18:28

    Scott, I agree the RBA didn’t made serious policy errors comparable to those made by the Fed, ECB, BoJ and other global central banks at the time of the Great Recession. My beef with the RBA was that despite Australian UnN dropping back down to 4.9% by late 2010, they failed to offset the decline in the terms of trade over 2011 to 2016, resulting in UnN drifting back up to nearly 6.5%. It took until mid-2018 for UnN to kiss 5% again and then Covid happened. Just as importantly, the RBA allowed core inflation to languish below the 2-3% target range from 2016 until Covid. And that’s despite the fact that annual increases in tobacco taxes elevated the CPI by 0.5% pa every year from 2013 onwards! Here is a link to an RBA speech that explains it: https://www.rba.gov.au/speeches/2018/sp-dg-2018-08-22.html Being a supply-side cost increase, I believe the RBA should have ‘looked through’ those tobacco tax increases, meaning that CPI effectively undershot the RBA’s target by even more than what appears.

  25. Gravatar of Mall Mall
    20. September 2021 at 03:22

    SUMNER20 doesn’t work. Response is “Invalid promo code.”

  26. Gravatar of ssumner ssumner
    20. September 2021 at 08:19

    Rajat, I agree with that.

    Mall, Sorry, try Amazon.

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