Why We’re Still Arguing Whether QE Worked

How many times have you heard someone say that the Federal Reserve’s asset-purchase program known as quantitative easing was ineffective? At least, that’s what I keep hearing from the usual pundits arguing their case.

Overcoming Our Inordinate Fear of Inflation

The harm of inflation cited in economics textbooks seems laughably unimportant. For example, inflation generates so-called shoe-leather costs — a term for the hassle of moving money from one’s brokerage or savings account to one’s checking account. This hassle is larger when prices change a lot, since you have to put spending cash in your […]

A Basic Income Should Be the Next Big Thing

Now and then a worthy economic proposal comes along that seems as politically unattainable as it is sensible. Then, on closer inspection, you see that it’s more than a policy-wonk’s fantasy. And you wonder whether it could actually prevail.