In 1967, Milton Friedman launched a counterrevolution in economics that overturned the Keynesian theory of inflation. Three years later, economist James Tobin issued a powerful theoretical rebuttal — but in the economics mainstream, it’s been all but forgotten.
I repeat my position on dealing with the current inflation: 1. Hold interest rates constant (as in Japan). 2. Do not expand fiscal policy significantly. 3. Provide fiscal support to the low-income families. 4. Watch […]
Ahead of the European Commission announcing its ‘2050 Climate Strategy’ for complying with the targets set out in the Paris Agreement, Corporate Europe Observatory (CEO) today released a two-part briefing (Part I, Part II) on […]
The virus confirms that the world needs rules for living together—but not the arbitrary rules we’ve got. For the good of the economy as much as anything else, the focus must shift from investment and […]
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