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A Newly Revised Version of My Paper (with Ron Batchelder) on Hawtrey and...
This may not be the most important news of the day, but for those wishing to immerse themselves in the economics of Hawtrey and Cassel, a newly revised version of my paper with Ron Batchelder...
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My Milton Friedman Problem
In my previous post , I discussed Keynes’s perplexing and problematic criticism of the Fisher equation in chapter 11 of the General Theory, perplexing because it is difficult to understand what Keynes...
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Second Thoughts on Friedman
After blowing off some steam about Milton Friedman in my previous post, thereby antagonizing a sizable segment of my readership, and after realizing that I had been guilty of a couple of memory lapses...
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Hicks on Keynes and the Theory of the Demand for Money
One of my favorite papers is one published by J. R. Hicks in 1935 “A Suggestion for Simplifying the Demand for Theory of Money.” The aim of that paper was to explain how to reconcile the concept of a...
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Krugman Predicts the Future History of Economic Thought
It’s always nice to have a Nobel Laureate rely on something you’ve written in making an argument of his own, so I would prefer not to turn around and criticize Paul Krugman for the very blog-post in...
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Friedman’s Dictum
In his gallant, but in my opinion futile, attempts to defend Milton Friedman against the scandalous charge that Friedman was, gasp, a Keynesian, if not in his policy prescriptions, at least in his...
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Richard Lipsey and the Phillips Curve
Richard Lipsey has had an extraordinarily long and productive career as both an economic theorist and an empirical economist, making numerous important contributions in almost all branches of...
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Milton Friedman’s Dumb Rule
Josh Hendrickson discusses Milton Friedman’s famous k-percent rule on his blog, using Friedman’s rule as a vehicle for an enlightening discussion of the time-inconsistency problem so brilliantly...
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Real and Pseudo Gold Standards: Could Friedman Tell the Difference?
One of the first academic papers by Milton Friedman that I read was “Real and Pseudo Gold Standards.” It’s an interesting paper presented to the Mont Pelerin Society in September 1961 and published in...
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The 2017 History of Economics Society Conference in Toronto
I arrived in Toronto last Thursday for the History of Economics Society Meeting at the University of Toronto (Trinity College to be exact) to give talks on Friday about two papers, one of which (“Hayek...
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