Monetary Theory

While watching the classic comedy Animal Crackers, I laughed as Groucho Marx — playing the character Captain Spaulding — engaged a gentleman named Chandler in a very funny...

Here's an interesting excerpt from an interview with David Card by the Minneapolis Fed's Region (December 2006).

Is Card making the Austrian point that the perfectly competitive model (a.k.a. the simple supply and...

In the New York Times, Joseph Stiglitz, a Nobel prize winner in economics, has an article titled "How to Fix the Global Economy." Judging from his article, Stiglitz appears to believe that the main problem of the global...

In recent years there have been growing complaints over slow growth in wages compared to profits. Those who make the complaints usually offer little in the way of explanation. Here is a part of the explanation: growing government budget deficits.

Government budget deficits are financed...