Archive for August 31st, 2016

Economists should stop defending Milton Friedman’s pseudo-science

August 31, 2016

Another hard hitting article questioning Milton Friedman and his blind followers. Noah Smith just questioned relevance of Friedman’s permanent income hypothesis

This one is on one of Friedman’s core ideas – assumptions don’t matter as long as predictions are in line with the model/theory:

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How ECB monetary policy is leading to rise in demand for home safes in Germany..

August 31, 2016

Wow, this is some bit of development in Germany. Germans kept piling on savings in savings accounts till rates were zero. Now with negative rates, they say enough is enough. They are busy keeping cash in their homes and for this demand of homesafes are rising. I did not know Japan saw similar development just a while ago.

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The higher you go in economics, the more the common sense rains out of you…

August 31, 2016

This is a hard hitting post on the economics profession by Bill Bronner. He has written a book recently called Hormegeddon: How Too Much of a Good Thing Leads to Disaster.

The post is based on his book.

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How US created Liberty Bond to finance World War I

August 31, 2016

Nice piece of economic history by Richard Sutch of Richmond Fed.

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