The Classicist: Descent Into Tribalism

Would you give the politician you trust least the same powers you want government to have?

Interest-paying electronic money, completely safe without deposit insurance, would be a great thing. For example, Silicon Valley Bank would never have had huge uninsured deposits that ran if there had been an easy safe place for large depositors to put their money.

Ken Rogoff says he was right about secular stagnation, real interest rates, and what it means for fiscal policy.