Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Economics, and such stuff as dreams are made on
"The British constitution has always been puzzling, and always will be." --Queen Elizabeth II
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
by Steve McIntyre
(Formerly Hatful of History)
Reading between the lines, and underneath the hype.
Commentary on monetary policy in the spirit of R. G. Hawtrey
Markets Matter, Money Matters...
Scholarly commentary on law, economics, and more
Economics of organizations, strategy, entrepreneurship, innovation, and more
Commentary on Australian and world events from a socialist and democratic viewpoint
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
For Walkability and Good Transit, and Against Boondoggles and Pollution
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Commentary on development, globalization, and trade by Jonathan Dingel.
Roger Moore's film criticism, against the grain since 1984.
History and Hardware of Warfare
Franck Portier's professional page
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
WORLD WAR II, EIGHTIES, MUSIC, HISTORY, HOLOCAUST
News, reviews and talk all about the Tudors
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Reading The Classics
Examining Gender Identity ideology and its impact on Women's Sex based rights and Gay Rights. Exploring how this has taken such firm root in Western societies (Cognitive & Regulatory Capture).
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Res ipsa loquitur - The thing itself speaks
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Thoughts on public policy and the media
Researching the House of Commons, 1832-1868
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Blogging on parliament, politics and people, from the History of Parliament
reflections on books and art
Posts on the History of Law, Crime, and Justice
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Jan 31, 2015 @ 10:18:18
So Hayek didn’t understand you only use fiscal policy when there is a liquidity trap.
not bright was he!
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Jan 31, 2015 @ 10:21:31
There is no such thing as a liquidity trap, and if there is, there are huge social gains in an ageing society from an optimal tax perspective bringing it on. See https://utopiayouarestandinginit.com/2014/07/04/if-there-is-such-a-thing-as-a-liquidity-trap-bring-it-on/
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Jan 31, 2015 @ 11:44:04
A liquidity trap is when monetary policy is no longer working properly i.e when you have deflation or interest rates are at the zero bound.
It is only under these conditions Keynes advocated fiscal policy. Otherwise you use monetary policy.
He has been proven 100% correct.
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Jan 31, 2015 @ 18:35:15
but see https://ideas.repec.org/p/fip/fedmsr/331.html
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Feb 01, 2015 @ 12:46:05
sorry I don’t get it.
If you have a depression and there is no deflation because of deficient demand so you only need monetary policy to overcome it.
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Feb 01, 2015 @ 12:52:01
The re-blog is about the mythical link between deflation and a depression.
Breathless journalists and politicians get into a moral panic over deflation because they fear a recession because of the experience of the 1930s of simultaneous deflation and a depression, which was a spurious correlation.
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Feb 01, 2015 @ 15:52:47
It doesn’t explain how Hayek got Keynesian policy so wrong.
Every country that had a depression in 2008 had deflation! It could depend on the Depression.
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Feb 01, 2015 @ 16:13:11
Reverse causality
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