I enjoyed Part 1 of the interview, especially at the end, where you and Milton discussed how the Fed have actually behaved as robots in following the "rule" of steady growth in money supply. Just how often do we run across irony when economics meets politics and/or public policy?
And I wholly share the concern about government one day printing money without taxation to "solve" its debt problems. It seems to me that the lynchpin of this awful course of action will be Social Security, which, as we know, isn't fully accounted for in our current national debt.
Looking forward to Part 2, Russ!
iceberg
· 3 years ago
Do any of the Cafe Hayek editors have a professional opinion on the ABCT, especially as espoused by F.A. Hayek?
Bruce Hall
· 3 years ago
Very enlightening. It's so simple that it seems to violate the rule: "Nothing is ever as simple as it first seems."
Stuart Berman
· 3 years ago
Great podcast! I can hardly wait for part II so I am ordering the Friedman book Capitalism and Freedom. [Thanks for the link.]
The first part brings up the question about what the feasible solution is to how the Fed operates. The mechanical replacement seems politically unfeasible. This was a nice touch in your recent podcast interview on healthcare in that John Cogan offered a viable solution.
Your podcast is a great example of how technology can deliver tremendous benefit by an exceptional economist interviewing an icon delivered in a highly distributed medium.
All Comments
I enjoyed Part 1 of the interview, especially at the end, where you and Milton discussed how the Fed have actually behaved as robots in following the "rule" of steady growth in money supply. Just how often do we run across irony when economics meets politics and/or public policy?
And I wholly share the concern about government one day printing money without taxation to "solve" its debt problems. It seems to me that the lynchpin of this awful course of action will be Social Security, which, as we know, isn't fully accounted for in our current national debt.
Looking forward to Part 2, Russ!
Do any of the Cafe Hayek editors have a professional opinion on the ABCT, especially as espoused by F.A. Hayek?
Very enlightening. It's so simple that it seems to violate the rule: "Nothing is ever as simple as it first seems."
Great podcast! I can hardly wait for part II so I am ordering the Friedman book Capitalism and Freedom. [Thanks for the link.]
The first part brings up the question about what the feasible solution is to how the Fed operates. The mechanical replacement seems politically unfeasible. This was a nice touch in your recent podcast interview on healthcare in that John Cogan offered a viable solution.
Your podcast is a great example of how technology can deliver tremendous benefit by an exceptional economist interviewing an icon delivered in a highly distributed medium.
Great interview, thanks!