Leaning on Russ Roberts, but a monetary constitution is an interesting idea

I feel like the old me, advocating for some system of sounder money, but there can be no doubt that a government monopoly on currency is fraught with dangers, and the current system of rewarding some and not others as the response to fiscal and monetary crises has been a shocking example of cronyism and favouritism.  The discussion is wide ranging, and covers a justification of rules, as hoping to get a “good” head of the Fed is of course not only subjective, but they behave oddly once installed, with political pressures of immense weight being thrown on their academic shoulders. A set of rules governing the creation and management of a currency would at least lend a Hayekian consistency to monetary policy that would allow people to plan towards a more predictable future.

Lawrence H. White of George Mason University talks with EconTalk host Russ Roberts about the possibility of a monetary constitution. Based on a new book,Renewing the Search for a Monetary Constitution, White explores different constitutional constraints that might be put on the government’s role in money and monetary policy. Topics discussed include cryptocurrencies, the gold standard, the Taylor Rule, the performance of the Fed, free banking, and private currency.

Lawrence H. White on Monetary Constitutions

And have a wonderful Wednesday unless you have made other plans …

 

This entry was posted in ECONOMICS. Bookmark the permalink.

31 Responses to Leaning on Russ Roberts, but a monetary constitution is an interesting idea

  1. Pete Maravich says:

  2. Pete Maravich says:

  3. Pete Maravich says:

  4. Pete Maravich says:

    just a wonderful mix of music and lyrics i think, and a gift with the guitar.

  5. Pete Maravich says:

  6. Pete Maravich says:

  7. Pete Maravich says:

  8. xty says:

    Good Morning.
    Nothing to say but that’s okay, good morning, good morning …

  9. Dryocopus pileatus says:

    and now for some levity…

  10. xty says:

    Good Morning. I got side-tracked, or perhaps main-tracked (yikes a multi-level pun!) and this is the exciting video I am watching. I think I will need to label things. Not the kind of thing I learn at all … easily, and when I don’t learn things easily I act like a two year-old. Rather famous for bursting out angrily at an early age, “I can’t say swan!” But this I will have to figure out.

  11. Dryocopus pileatus says:

    this guy has even a worse potty mouth than me! but i don’t blame him at all for being pissed off. what a (cruel) joke it all has become. À la lanterne!

    http://www.firstrebuttal.com/2015/03/12/wow-the-fed-gives-a-giant-fuck-you-to-working-class-americans/

  12. Pete Maravich says:

    tune for me.

    hi.
    :mrgreen:

  13. Pete Maravich says:

  14. Pete Maravich says:

    These Dylan lyrics and the Garcia guitar have always pulled me in.

    Xty, do you get The History Channel there? Ever checked out the “Vikings” series?, pretty good stuff.

    I remain.

  15. Pete Maravich says:

  16. Pete Maravich says:

  17. Pete Maravich says:

    Taking advantage of the juke once again.

    Thanks for this place Xty.

    Baked and thinking about moving furniture around. :mrgreen:

  18. Pete Maravich says:

  19. Pete Maravich says:

  20. xty says:

    That is the correct way to move furniture around no doubt about it. Gives one the right kind of inspiration.

    We beetled off to Penetang for my brother-in-law’s 50th – and now we are all members of that elite club, sibling-wise. But great nephew and niece are here and all went well and we (as in those younger than us) dug out the fire pits and hung buckets and a small but satisfactory amount of sap is being collected.

    Didn’t quite expect it, or the weather to cooperate at all. But back to Ottawa tonight and then Easter for a better visit and potential syrup boil.

    So a belated good morning for the weekend, and an almost on time one for today!

  21. Pete Maravich says:

    There is seemingly a lot of synchronicity in my life lately, and i’m surprised, and amused, and grateful.

    Hi.
    You getting any favorable temps up there? We’re having 50’s-70’s with some nasty dips in between and lows only around 34.
    f winter..i love springtime.

  22. Pete Maravich says:

  23. Pete Maravich says:

  24. Pete Maravich says:

  25. Dryocopus pileatus says:

  26. Dryocopus pileatus says:

    like i have been saying for years…

    http://wallstreetonparade.com/2015/03/paul-craig-roberts-shames-corporate-media-hucksters-masquerading-as-journalists/

    you know what he is saying is true, don’t ya? the real conspiracy is to keep the American public brain dead.

    don’t try to pigeon hole this guy either. the truth can lurk under any color cloths.

    everyone have a beer for me today.

  27. Pete Maravich says:

  28. xty says:

    What the heck are those notifications? Am I somehow sending them to you? That cannot be the kind of synchronicity you were enjoying or finding amusing!

    Is there a way to turn off notifications at your end?

    And good morning all. It has been a much more peaceful time inside my head lately and I have been enjoying it. Age, as in I am not boiling to death spontaneously every now and then so sometimes getting older is a blessing undisguised, getting some traction with the medical world and getting access to my pain killer of choice without constant worry, establishing better peace within the immediate circle of relations, many things have been better than they were, and finding that boat …

    And this has changed my sleeping too, and while I am up sometimes still, I keep myself much quieter and restful, or perhaps it is just that with less anxiety being awake in the middle of the night is not so alarming. But this has cut into when I used to write and I need to carve new time into my day to get back at it. I miss my endless drivel!

    And coincidentally or not, now that we have a new hot water heater and are free from the orange sludge, my belly is not nearly as bad. Or perhaps again, it was anxiety that made my belly bad. Or my bad belly made me anxious.

    Once you get into a circle of not feeling so well, it is easy to spiral down to disaster. And there are always the winter sads to contend with, and even if it is going to be -15 C tonight, there is warmth in the sun. I am going to bore us all with some shipping news, blog wise, so we can all watch the Georgian Bay melt together, which will force my hand, blog wise. And this time I will throw in Wareham, Massachusetts, where our boat sits, “on the hard”, to use correct nautical terminology. And something about how the earth being knocked off-kilter created the seasons … or so they said on t.v., so we know it is true.

    Oh and distracting great news is that eldest offspring is going to spring home for an unexpected Easter break …

    Hey where did the notifications go? My computer is acting up and I had to go away and login even though I was logged in … and yes we get the History Channel but no, I haven’t seen the Vikings … will look out for it.

  29. xty says:

    Joni Mitchell is much better than the weird screenshot of notifications I saw earlier … or this Amnesia Haze must really be working …

Comments are closed.