The True Gold Standard (Second Edition)
The "surprise" jump in producer and consumer price inflation is not a surprise when you understand the political and economic logic of using one nation's domestic currency--the U.S. dollar--as international money. Domestically oriented analysts have been fooled because U.S. inflation responds to the world-supply of dollars, not just those in the U.S.
The Federal Reserve System's James Narron and David Skeie, career officials with the Federal Reserve System, are two eminent historically erudite figures. Writing in the New York Federal Reserve Bank's online publication, Liberty Street Economics, they recently provided a continuation of their valuable historical "revue," Crisis Chronicles: The Collapse of the...
Jul 14, 2014
On July 6th, Nobel economics laureate and Princeton Professor launched, in the New York Times, one of his occasional polemics, entitled Conservative Delusions About Inflation, against proponents of the gold standard. Krugman Caricature under creative commons license from DonkeyHotey As usual, Prof. Krugman is, conveniently for the position he takes, beyond lopsided...
Jul 23, 2014
An article headline in Saturday’s Wall Street Journalread “Rate Talk Heats Up Within The Fed.” As Journalreporters Jon Hilsenrath and Michael Derby...
Dec 19, 2012
Key Monetary Writings
The Federal Reserve System is a major sponsor of monetary economics research by American economists. I provide some measures...
Why the Gold Standard?