It often happens in arguments with the general public that people ask for an empirical example of whatever economic (or political) principle I’m attempting to explain. In truth, it’s sometimes worse. They ask for an empirical example, but really they are appealing to authority under the guise of wanting a
In the first part of this two-part series on inflation and deflation we discussed how money came to be used to facilitate trade. Metals were the best commodities for use as money because they were durable, relatively rare, and were easy to mold into identical pieces. As the wealth of
It sounds strange to a lot of people that both deflation and inflation are being talked about right now as if they could possibly happen at the same time. If inflation is rising prices, and deflation is falling prices, how could they happen at the same time? In fact, there
Cryptogon is an excellent news site which I highly recommend to anyone who would like his news pre-filtered for importance. In a recent post Cryptogon expresses surprise that the Fed might start buying treasuries. In fact, most of us have been wondering why the Fed HASN’T been buying treasuries, since, in fact, this is what the Fed does
