What is money for?What is “money” and what is it for? At its core, anything worth being called “money” has to serve three purposes. First, it must be a…10h ago10h ago
Where does inflation come from?We often hear about inflation, but why does it happen? Broad-based price increases have a few basic drivers.Nov 6Nov 6
How much tax do billionaires pay?Today’s topic is: how much tax do the very rich really pay?Oct 23Oct 23
Is the pain of future debt worth the tax cuts now?Today I want to talk about a debate surrounding the recent tax cuts: was it worth increasing the national debt today in order to extend…Oct 13A response icon1Oct 13A response icon1
When private markets fail: public goodsToday’s post is about another major reason private markets can fail: public goods.Oct 6A response icon1Oct 6A response icon1
Why do economies grow?Today’s post is about what drives long-term economic growth. In economics, one of the most famous tools we use to understand long-term…Sep 23Sep 23
When private markets fail: market powerToday’s post is a primer on an important source of market failure. A key requirement for private markets to work well is that no single…Sep 15Sep 15
What would happen if there was no Fed?What would happen, hypothetically, if the US Federal Reserve were eliminated? Could the monetary system still work?Sep 8A response icon1Sep 8A response icon1
Open letter in support of Governor Lisa Cook and Federal Reserve independenceLess than a week after I started collecting signatures, nearly 600 economists (593 to be precise) signed an open letter urging the…Sep 2Sep 2
When markets fail: externalitiesMarkets can be amazing at allocating resources when the right conditions hold. But when they don’t hold, markets can go very wrong. One of…Aug 25A response icon1Aug 25A response icon1
