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A Simple Lesson About Money and Models

Imagine you are in your high school algebra class and you are presented with the following two equations: Two linear equations with 2 unknowns. This is a simple problem to solve. Now suppose that your...

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On Exhaustible Resources

Yesterday, George Monbiot wrote in the Guardian that the survival of capitalism relies on persistent economic growth and persistent economic growth is impossible in the long-run because there are...

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On Exhaustible Resources, Part 2

Yesterday’s post on exhaustive resources has drawn a lot of ire from critics. Some have argued that I didn’t address the problem of economic growth. In short, the argument is that there are two sources...

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On Drawing the Wrong Lessons from Theory: The Natural Rate of Unemployment

Economic theory is important. Theory provides discipline. Economists write down a set of assumptions and follow those assumptions to their logical conclusions. The validity of a particular theory is...

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On Maritime Policy

Some time ago, I was listening to NPR and the hosts were discussing the Jones Act. For those who are unaware, the Jones Act requires that any shipping done from one U.S. port to another U.S. port must...

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Some Links

A couple of links to things I have been working on… My paper entitled, “The Riksbank, Emergency Finance, Policy Experimentation, and Sweden’s Reversal of Fortune” is now forthcoming at the Journal of...

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Podcast on Maritime Policy

I recently recorded an episode of The Economics Detective podcast with Garrett Petersen. The subject of the podcast is my paper, “U.S. Maritime Policy and Economic Efficiency.” A link to the paper is...

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Macroeconomic Policy and the Coronavirus

(The post is also going to be cross-posted at Lars Christensen’s Market Monetarist blog.) As the coronavirus spreads across the world, there is growing concern about the economic implications of the...

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The Coronavirus and Lessons for Preparedness

My new Mercatus policy brief is up. It is entitled, “The Coronavirus and Lessons for Preparedness.” You can find it here.

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In Memory of Bob Rossana

Robert “Bob” Rossana died back in February of this year. I was inadvertently left off of the university announcement email and did not hear about it until much later. Bob was my dissertation advisor....

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