As the play-acting drama of the "fiscal cliff" negotiations continue -- a drama that would be ridiculous and laughable were it not so detrimental to the ability of individuals and businesses to plan for their immediate future -- we would like to offer several related observations.
First, we point out that the entire "fiscal cliff" scenario...
Thursday, December 13, 2012
AIER's essay on "A World of Persistent Inflation"
Last week, the venerable American Institute for Economic Research (AIER) published a clear and comprehensive study of monetary policy in the post-WWII United States, entitled "A World of Persistent Inflation," by Stephen R. Cunningham and Polina Vlasenko. While somewhat long and involved, it provides an excellent discussion of an absolutely...
