All posts tagged monetary policy

Aggregate Demand is not what you think

Scott Sumner has a new piece arguing that supply and aggregate supply are unrelated and misnamed: The AS/AD model that we teach our students is misnamed, as it has nothing to do with the supply and demand model used in microeconomics. To take one simple example, the vast majority of industry supply curves are almost […]

Rethinking Macroeconomics

For a while, I have been trying to turn my views on macroeconomics into a complete system. This post will summarize how I approach macroeconomics from my market monetarist framework. However, keep in mind that I am only summarizing the core components.

Original Sin of the Macroeconomics

I’ve been reading articles on the Keynesian/NeoFisherian debate for a while. It’s an interesting debate for me. Before commenting on the debate, I’d better start from the Great Recession. After the Great Recession, three “heterodox” objections arose in monetary economics – schools of thought that reject the mainstream models. In my opinion, all three objections […]

Lessons From the Past

Studying pre-modern economic history and economic trends can teach a lot. You can take many different perspectives, especially when studying the first invention of money, the Roman period (specifically the 3rd-century crisis), and the High Medieval economy. Years ago, while studying pre-modern economic history for the first time, I wondered how money was invented. Until […]