Classical Economics in a Quantum World
Trump Bashes the Fed Over Rate Hikes The Federal Reserve and the Holy Natural Rate of Interest The Federal Reserve is on a Monty Pythonesque search for the Holy Grail of natural interest rates—the Wicksellian natural rate of interest. As…
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Yellen’s Inadvertent Gold Standard Nathan Lewis posted an excellent piece on Forbes about gold’s correlation with the dollar during Yellen’s tenure as Fed Chair. Lewis asks the question, “have we effectively recreated the Bretton Woods gold standard system?” Bretton Woods linked…
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The first rule to understanding elections is the wisdom of the electorate. The electorate is always right. That is why democracy works. The population in aggregate is far wiser than any elite few. Political systems have evolved in a trial-and-error…
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