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Tuesday, 14 April 2015 |

301 Moved Permanently

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Concerns about deflation – falling prices of goods and services – are rooted in the view that it is very costly. This column tests the historical link between output growth and deflation in a sample covering 140 years for up to 38 economies. The evidence suggests that this link is weak and derives largely from the Great Depression. The...
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Just like the Bank of England hired Mark Carney from Canada, maybe our central bank, the Fed, should hire Elvira Nabiullina from Russia?...
Tuesday, 07 April 2015 |

301 Moved Permanently

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Who believes the Gulf of Maine is warming, and reasons to believe that it is....
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Why aren’t we getting angry about the steady shifting of treasure from the middle class to the very richest? Why haven’t the few who are vocal and visibly frustrated coalesced into a real movement? Has there ever been a time when Americans made noise about this kind of thing? These questions are at the heart of “The Age of Acquiescence: The Life a...

Saturday, 04 April 2015 |

Links 4/4/15

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When sanctions were imposed and tightened against Russia, and oil prices plunged, conventional wisdom in the US press was that the Russian people would not tolerate a decline in living standards and therefore Putin's days were numbered. In fact, Putin's approval ratings rose and even most of his opponents in the Moscow intelligensia fell in behind...
Monday, 30 March 2015 |

301 Moved Permanently

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I came to writing about money by accident. After graduating from Trinity College, I went into a PhD program at the University of Chicago to study with the greatest Irish historian of his generation. With his training and mentorship, I thought I was going to become a famous historian, though I would focus on transatlantic immigration. Looking back,...

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