In a series of articles brought to my attention today, Matthew C Klein has been building the case for separating lending institutions from depository institutions. In Klein’s… Read more “One M2 to Rule Us All”
A country is not a household. Wait, back up. Let’s make that statement more clear. It is unlikely that an individual household has the reputational capital and… Read more “Where is the Last Straw?”
Noah Smith has a new piece in The Atlantic today about wealth distribution (yes, it has to do with that dumb video). The refreshing part is, Noah’s… Read more “Noah Smith on Wealth and Inequality”
In nominal terms, the S&P 500 is closing in on its cursed peaks!
Such is the title of this weekend’s Wonkblog article by Mike Konczal. The proper answer to that question is, “Who cares?” Contrary to popular belief on the… Read more “Does Dodd-Frank Really End ‘Too Big to Fail’?”
Besides Keynes himself, no other posthumous economists’ legacy has been boosted quite as much as the late Hyman Minsky’s by the financial crisis. Minsky’s famous insight, captured… Read more “Minsky was Wrong, and So are Today’s Acolytes”
No, you didn’t read that title wrong. In this post I hope to outline the argument against the view, popularized by Reinhart, Reinhart, and Rogoff, that recoveries… Read more “Slow Recoveries Cause Financial Crises”