There has recently been a lot of discussion about how all of the conspiracy nuts are moving over to the GOP, whereas not so long ago they were at least as common among Democrats. Matt Yglesias has a very good post that points out how this is a problem for both sides.The TLDR is that Republicans increasing suffer from

The Money Illusion

01.09.2024

TheMoneyIllusion » Are we moving toward fiscal dominance?

A recent Bloomberg article suggested that we may be moving toward a regime characterized by fiscal dominance, at least part of the time: In their paper, three economists from New York University, Stanford and London Business School argue that the US is moving from a regime of “monetary dominance” to one of “fiscal dominance.” In the former, the Fed controls inflation

The Money Illusion

02.09.2024

TheMoneyIllusion » A long strange trip

For readers who don't already know this, my new blog is over at Substack:scottsumner.substack.comThis will be my final Money Illusion post. The blog began on February 2, 2009. But the events that led to the blog took place in late 2008. Indeed my life can be divided into two segments, before and after September 16, 2008. It was that specific

The Money Illusion

02.09.2024

TheMoneyIllusion » Magic dust (a fable)

In the mid-1990s, the consensus view was that central banks should target inflation at 2%. Then in the late 1990s, a light rain of

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TheMoneyIllusion » Yglesias on political sorting

TheMoneyIllusion » Are we moving toward fiscal dominance?

TheMoneyIllusion » A long strange trip

TheMoneyIllusion » Magic dust (a fable)

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