8 ms·
Scott Sumner over at http://www.themoneyillusion.com/ http://www.themoneyillusion.com/ has played a big part in changing peoples's views on this. He is definit
by nwj 13y ago
Scott Sumner over at http://www.themoneyillusion.com/ http://www.themoneyillusion.com/ has played a big part in changing peoples's views on this.
He is definitely worth reading regularly if you are interested in or want to learn more about monetary policy.
- hudibras 13y agoI think some people would say that Paul Krugman might have helped out a bit, too. http://krugman.blogs.nytimes.com/2013/10/27/the-economics-of-rip-van-winkle/ http://krugman.blogs.nytimes.com/2013/10/27/the-economics-of...
- clarkm 13y agoA good overview of his viewpoint can be found here: http://en.wikipedia.org/wiki/Market_monetarism http://en.wikipedia.org/wiki/Market_monetarism
- nazgulnarsil 13y agoActually, noticing that inflation and the quantity of dollars in the system have a non-linear interaction is the core of his point if I understand him correctly. He preaches de-emphasizing inflation in favor of NGDP, but this is not the same as saying that inflation should be higher. Rather, he says that NGDP and inflation are more orthogonal than previously thought.