Economics, Trust, Imputation, and Worth (Updated)

Shocking as it may be, courses in medieval history and theology do not always have immediate relevance to late modern society. There is a theme in medieval history and theology, however, that does illumine what is happening to the global economy. Since . . . Continue reading →

Money Could Be Other Than It Is

Available research does not support the view that the Federal Reserve System has lived up to its original promise. Early in its career, it presided over both the most severe inflation and the most severe (demand-induced) deflations in post-Civil War U.S. history. . . . Continue reading →

Williamson Contra Piketty

We treat the physical results of capitalism as though they were an inevitability. In 1955, no captain of industry, prince, or potentate could buy a car as good as a Toyota Camry, to say nothing of a 2014 Mustang, the quintessential American . . . Continue reading →