In revising my Comparing Economic Systems in the 21st Century, I was struck by the relevance of the writings of Thomas Hobbes, John Locke, and Adam Smith to our current political-economic debates...
by John B. Taylor (George P. Shultz Senior Fellow in Economics; Chair, Working Group on Economic Policy; and member of the Task Force on Energy Policy)
Monetary policy rules can be used both for prescriptive and descriptive purposes, but it’s important to be clear about which purpose one has in mind...
Tyler Cowen and co-blogger Arnold Kling have commented on what they see as the main failings of left-wing and market-oriented economists...But here's one failing, that neither Tyler nor Arnold mentions...
Last month, Alex Tabarrok posted an interesting piece on the failure of Keynesian politics...It would be nice to see some Keynesians follow in their predecessors' footsteps...
by John B. Taylor (George P. Shultz Senior Fellow in Economics; Chair, Working Group on Economic Policy; and member of the Task Force on Energy Policy)
At yesterday's hearing before the Senate Banking Committee, Fed Chairman Ben Bernanke talked about monetary policy rules in response to a series of questions by Senator Pat Toomey...
Writing in The Wilson Quarterly, Samuelson weighs the left and the right’s explanations of the crisis and finds them both wanting...But Samuelson misunderstands the important difference between creditors and equity holders...
As someone who takes it seriously--I don't know of any economist who doesn't--I want to explain (1) what consumer surplus is and (2) why I take it seriously...
