The market monetarist smell test

The market monetarist smell test

| market monetarism, Miles Kimball, Scott Sumner

I gave myself a quick whiff this week to determine if I pass the market monetarist smell test. This is by no means definitive, nor is this a...

It was the best of times, it was the worst of times

It was the best of times, it was the worst of times

| Irving Fisher, money illusion, Scott Sumner, stock market and equities, System of National Accounts

You may know by now that the final revision of U.S. first quarter GDP revealed a shocking 2.9% decline while its mirror image, gross domest...

Scott Sumner vs. the Real Bills Doctrine

Scott Sumner vs. the Real Bills Doctrine

| Federal Reserve, John Law, Mike Sproul, quantity theory of money, real bills doctrine, Scott Sumner

This is a guest post by Mike Sproul . Mike's last guest post is here . Scott Sumner and I have argued about the backing theory of money ...