Scott Sumner

Scott Sumner: Archives

Scott Sumner

Scott Sumner blogs on EconLog after starting as Guest Blogger in 2014. His home site is The Money Illusion.


EconLog Articles by Scott Sumner

EconTalk Extra
2015/04/27
Permanent Link | Comments (5)
Optimal mutual funds in a world of bubbles
2015/04/25
Permanent Link | Comments (17)
It's not a beauty pageant
2015/04/23
Permanent Link | Comments (12)
What does it mean to suggest that interest rates are "artificially low"?
2015/04/21
Permanent Link | Comments (13)
Substitute goods and reasoning from a price change
2015/04/20
Permanent Link | Comments (18)
Did the Fed cause the sub-prime boom?
2015/04/18
Permanent Link | Comments (22)
Congress sets the goals, the Fed sets the intermediate target
2015/04/16
Permanent Link | Comments (15)
Is the Fed allowed to create GDP prediction markets?
2015/04/15
Permanent Link | Comments (14)
The wrong way to fix Social Security
2015/04/14
Permanent Link | Comments (19)
There is no sticky wage puzzle
2015/04/12
Permanent Link | Comments (20)
Don't blame the workers
2015/04/11
Permanent Link | Comments (17)
Low interest rates do not call for more investment
2015/04/08
Permanent Link | Comments (14)
Using monetary policy to prevent financial instability
2015/04/07
Permanent Link | Comments (7)
Germany is "balanced", it's the rest of Europe (and the ECB) that are unbalanced
2015/04/04
Permanent Link | Comments (17)
Milton Friedman argued that the Great Depression occurred despite massive QE
2015/04/03
Permanent Link | Comments (11)
Is Larry Summers reasoning from a price change?
2015/04/01
Permanent Link | Comments (13)
Talking about Britain while talking about Singapore
2015/03/30
Permanent Link | Comments (6)
What's new since 1982?
2015/03/28
Permanent Link | Comments (18)
This Sick Capitalism ®
2015/03/25
Permanent Link | Comments (18)
Is Stanley Fischer too complacent?
2015/03/24
Permanent Link | Comments (13)
Hard Asia, Soft Europe
2015/03/23
Permanent Link | Comments (8)
The Fed: What's the minimum acceptable accountability?
2015/03/20
Permanent Link | Comments (9)
Brad DeLong on the "sell by date" of Krugmanomics
2015/03/18
Permanent Link | Comments (5)
Will the GOP once again opt for big government?
2015/03/17
Permanent Link | Comments (16)
What's the "sell by date" of Krugmanomics?
2015/03/16
Permanent Link | Comments (11)
Krugman's dangerous idea (It worked for me too!)
2015/03/13
Permanent Link | Comments (19)
Everyone needs to be accountable
2015/03/11
Permanent Link | Comments (16)
Two ways of thinking about economics
2015/03/09
Permanent Link | Comments (33)
Is the "inequality" issue a cover for something else?
2015/03/07
Permanent Link | Comments (13)
The bizarre way economists calculate real income
2015/03/04
Permanent Link | Comments (23)
The last New Keynesian left alive
2015/03/03
Permanent Link | Comments (9)
How interest rates matter, and how they don't
2015/03/01
Permanent Link | Comments (25)
Bryan Caplan's conventional views
2015/02/27
Permanent Link | Comments (17)
Mission creep
2015/02/26
Permanent Link | Comments (14)
Power is a residual
2015/02/25
Permanent Link | Comments (19)
Should America help corrupt officials hide wealth?
2015/02/21
Permanent Link | Comments (22)
The housing bubble: Perceptions and reality
2015/02/20
Permanent Link | Comments (31)
Inconvenient truths
2015/02/18
Permanent Link | Comments (25)
Reasoning from a price change, example #341
2015/02/16
Permanent Link | Comments (18)
There's no point in arguing over definitions
2015/02/14
Permanent Link | Comments (29)
Have an opinion about string theory? How about macroeconomics?
2015/02/13
Permanent Link | Comments (41)
The Wittgenstein test
2015/02/11
Permanent Link | Comments (23)
Experiments in a Guaranteed Annual Income
2015/02/09
Permanent Link | Comments (35)
Statist policies in China
2015/02/07
Permanent Link | Comments (10)
The new jobs figures and macro theory
2015/02/06
Permanent Link | Comments (10)
What's so funny?
2015/02/03
Permanent Link | Comments (29)
A few thoughts on Greece
2015/02/02
Permanent Link | Comments (24)
The CBO's forecast, with and without "austerity"
2015/01/30
Permanent Link | Comments (23)
Questions for Keynesians (Show me the data)
2015/01/28
Permanent Link | Comments (25)
Stone Age Economics
2015/01/27
Permanent Link | Comments (13)
Monetary offset: Reply to my critics
2015/01/25
Permanent Link | Comments (12)
The Keynesian shell game
2015/01/22
Permanent Link | Comments (42)
Ralph Hawtrey
2015/01/20
Permanent Link | Comments (11)
Exchange rate pegs are usually a bad idea
2015/01/19
Permanent Link | Comments (8)
Central banking in a negative seignorage world
2015/01/18
Permanent Link | Comments (7)
Monetary Policy: The more ambitious your goals the less hard you have to work
2015/01/17
Permanent Link | Comments (14)
What's wrong with macro?
2015/01/15
Permanent Link | Comments (16)
Reasoning from multiple price changes
2015/01/14
Permanent Link | Comments (14)
The implications of zero interest rates for monetary and fiscal stimulus
2015/01/13
Permanent Link | Comments (17)
It's all in EC101
2015/01/11
Permanent Link | Comments (18)
Simon Wren-Lewis on expansionary austerity
2015/01/09
Permanent Link | Comments (10)
Sympathy for the top quintile
2015/01/08
Permanent Link | Comments (14)
Are German schoolchildren taught about the 1929-32 deflation?
2015/01/07
Permanent Link | Comments (20)
Tax dodging and currency
2015/01/07
Permanent Link | Comments (6)
Be skeptical, be very skeptical
2015/01/05
Permanent Link | Comments (20)
A penny for our thoughtless society
2015/01/02
Permanent Link | Comments (20)
I don't believe you (you're a liar)
2014/12/30
Permanent Link | Comments (14)
So how's the economy doing this year?
2014/12/27
Permanent Link | Comments (11)
The French experiment: Laffer >>>>>>> Piketty
2014/12/24
Permanent Link | Comments (25)
Choosing the right tools
2014/12/22
Permanent Link | Comments (2)
Markets describe reality; models should explain market reactions
2014/12/20
Permanent Link | Comments (16)
Central banks should do their job
2014/12/17
Permanent Link | Comments (4)
The ECB: Is it a hopeless case?
2014/12/16
Permanent Link | Comments (11)
Speaking of torture . . .
2014/12/14
Permanent Link | Comments (15)
John Cochrane on modern macro
2014/12/12
Permanent Link | Comments (14)
War on crime? Or war on the poor?
2014/12/09
Permanent Link | Comments (22)
Why debates over inflation are pointless
2014/12/07
Permanent Link | Comments (54)
What (if anything) can we learn from 1921?
2014/12/05
Permanent Link | Comments (15)
Bloggers >>>>>>>>>> Central banks
2014/12/04
Permanent Link | Comments (8)
Brad DeLong poses two questions about NGDP targeting
2014/12/02
Permanent Link | Comments (9)
The IMF hits a new low
2014/12/01
Permanent Link | Comments (8)
Falling oil prices have no implications for global growth. Oil production does
2014/11/30
Permanent Link | Comments (18)
Neo-Fisherism converges on market monetarism
2014/11/28
Permanent Link | Comments (2)
The Piketty Path to Riches
2014/11/27
Permanent Link | Comments (5)
A few thoughts on free banking
2014/11/25
Permanent Link | Comments (29)
Why America can't have small government (and China can)
2014/11/25
Permanent Link | Comments (16)
The smart against the dumb: The new Cold War
2014/11/22
Permanent Link | Comments (31)
Sticky wages and sticky fed funds rates
2014/11/18
Permanent Link | Comments (9)
No, low interest rates do not call for more public investment
2014/11/16
Permanent Link | Comments (18)
I'm not "the NGDP guy"
2014/11/15
Permanent Link | Comments (16)
The silence of the lambs
2014/11/15
Permanent Link | Comments (31)
Worse than a crime, it was a blunder: A pragmatic case for honesty
2014/11/13
Permanent Link | Comments (13)
The "War on Drugs" and crime rates
2014/11/11
Permanent Link | Comments (13)
Is George Selgin defending Keynes on liquidity traps?
2014/11/11
Permanent Link | Comments (17)
The problem of population
2014/11/09
Permanent Link | Comments (19)
An odd incident in modern liberalism
2014/11/08
Permanent Link | Comments (14)
How Europe did a "1937"
2014/11/07
Permanent Link | Comments (8)
Low interest rates do not cause low inflation, or high inflation
2014/11/05
Permanent Link | Comments (10)
The "it doesn't matter" theories
2014/11/04
Permanent Link | Comments (10)
For some strange reason Keynes and Hayek caused the Great Recession
2014/11/02
Permanent Link | Comments (14)
Supply and demand-side stagnation
2014/10/30
Permanent Link | Comments (24)
The ECB has an inflation target. How do the Germans propose they hit it?
2014/10/26
Permanent Link | Comments (20)
My naivete about government officials
2014/10/25
Permanent Link | Comments (17)
The great sin, the even greater sin, and the enlightened path
2014/10/23
Permanent Link | Comments (21)
Did the Bush tax rebates actually work?
2014/10/22
Permanent Link | Comments (7)
Nominal GDP is not real (and is really tiny)
2014/10/20
Permanent Link | Comments (23)
Housing and poverty
2014/10/17
Permanent Link | Comments (15)
It's the economy, stupid
2014/10/16
Permanent Link | Comments (17)
You know you're in trouble when even the Italians forget how to inflate
2014/10/14
Permanent Link | Comments (22)
No hawks or doves, just owls
2014/10/12
Permanent Link | Comments (15)
Economics is symmetrical
2014/10/10
Permanent Link | Comments (27)
A certain laxity in word choice
2014/10/08
Permanent Link | Comments (22)
Words and meaning (good theft and bad)
2014/10/07
Permanent Link | Comments (42)
Currency and lotteries: Is there a free lunch?
2014/10/04
Permanent Link | Comments (9)
Still no free lunch
2014/10/03
Permanent Link | Comments (9)
Flying blind
2014/09/30
Permanent Link | Comments (12)
Don't jump to conclusions (markets are smarter than you or I)
2014/09/28
Permanent Link | Comments (21)
What kind of Great Stagnation?
2014/09/27
Permanent Link | Comments (25)
Is the middle class being "squeezed?"
2014/09/26
Permanent Link | Comments (26)
Canadian success
2014/09/23
Permanent Link | Comments (15)
The Key to victory: Run against Piketty-nomics
2014/09/22
Permanent Link | Comments (14)
There is nothing tautological about market monetarism
2014/09/21
Permanent Link | Comments (17)
What's wrong with Hong Kong? (Too much government)
2014/09/20
Permanent Link | Comments (25)
Inequality in education
2014/09/19
Permanent Link | Comments (15)
Once again, tight money is the Achilles heel of the right
2014/09/16
Permanent Link | Comments (10)
Ending slavery made America richer
2014/09/13
Permanent Link | Comments (22)
The Closing of the Liberal Mind (pt. 2)
2014/09/12
Permanent Link | Comments (21)
Lorenzo on the opponents of neoliberalism
2014/09/10
Permanent Link | Comments (17)
The Wall Street Journal must think Milton Friedman was a Keynesian
2014/09/09
Permanent Link | Comments (9)
Is deflation bad?
2014/09/08
Permanent Link | Comments (8)
Never reason from a wage change
2014/09/07
Permanent Link | Comments (4)
Four things I believe
2014/09/05
Permanent Link | Comments (11)
Predicting bubbles
2014/09/01
Permanent Link | Comments (19)
Intellectual decay
2014/08/28
Permanent Link | Comments (36)
Mr. Bernanke vs. the Structuralists
2014/08/26
Permanent Link | Comments (10)
Never reason from a bond price change
2014/08/24
Permanent Link | Comments (8)
Nominal GDP targeting in developing countries
2014/08/23
Permanent Link | Comments (8)
When supply is demand
2014/08/19
Permanent Link | Comments (13)
Grade deflation, grade illusion, and academic depressions
2014/08/17
Permanent Link | Comments (12)
Never reason from a price change, even in Japan
2014/08/15
Permanent Link | Comments (18)
Tyler Cowen on ECB policy
2014/08/14
Permanent Link | Comments (13)
Jonathan Chait's bizarre idea of an honest poll
2014/08/13
Permanent Link | Comments (22)
The economy is more subtle and complex than you might assume
2014/08/11
Permanent Link | Comments (13)
The power of wishful thinking?
2014/08/10
Permanent Link | Comments (5)
When the straightforward interpretation seems crazy
2014/08/09
Permanent Link | Comments (16)
Charles Cooke's lame dismissal of left wing nerds
2014/08/06
Permanent Link | Comments (33)
Economics: Truer than it seems
2014/08/04
Permanent Link | Comments (12)
If something can't go on forever, it will
2014/08/02
Permanent Link | Comments (25)
Wolfers on the fiscal consensus
2014/07/30
Permanent Link | Comments (16)
"Helicopter drops" are a bad idea at any time
2014/07/28
Permanent Link | Comments (19)
I feel pain therefore I am (a utilitarian)
2014/07/27
Permanent Link | Comments (47)
Nick Rowe on fiscal policy (and reply to Caplan)
2014/07/24
Permanent Link | Comments (19)
Beyond left and right
2014/07/23
Permanent Link | Comments (19)
A few notes on utilitarianism
2014/07/21
Permanent Link | Comments (25)
The wisdom of Cass Sunstein
2014/07/19
Permanent Link | Comments (20)
Economics is all about consumption
2014/07/18
Permanent Link | Comments (20)
AD: Eleven stages of enlightenment
2014/07/17
Permanent Link | Comments (14)
Governments don't create problems, they solve problems
2014/07/15
Permanent Link | Comments (8)
Philip Booth on Thomas Piketty
2014/07/14
Permanent Link | Comments (2)
There are two kinds of people . . .
2014/07/10
Permanent Link | Comments (13)
Why no Kansas miracle?
2014/07/07
Permanent Link | Comments (24)
What about Asia?
2014/07/03
Permanent Link | Comments (17)
Mr. Krugman's peculiar post
2014/07/02
Permanent Link | Comments (19)
When is nominal GDP targeting optimal?
2014/06/28
Permanent Link | Comments (13)
Piketty on "merit"
2014/06/26
Permanent Link | Comments (25)
Unpersuaded
2014/06/23
Permanent Link | Comments (27)
The Fed at 100: A century of procyclical policy
2014/06/20
Permanent Link | Comments (10)
What does 1933-80 tell us about banking regulation?
2014/06/17
Permanent Link | Comments (7)
Fiscally inefficient monetary policy
2014/06/13
Permanent Link | Comments (8)
Never reason from an interest rate change
2014/06/11
Permanent Link | Comments (10)
Liberalism unbound: Free lunch and dinner--all you can eat!
2014/06/10
Permanent Link | Comments (23)
Obama is to the right of Texas on pot legalization
2014/06/07
Permanent Link | Comments (30)
The First Fundamental Law of Capitalism
2014/06/06
Permanent Link | Comments (9)
Private affluence, public squalor, high taxes
2014/06/04
Permanent Link | Comments (21)
Piketty on Kuznets
2014/06/02
Permanent Link | Comments (11)
Can we have confidence in our opinions on immigration?
2014/05/30
Permanent Link | Comments (21)
Inflation targeting: It's even worse than you thought
2014/05/28
Permanent Link | Comments (11)
The goal of monetary stimulus is to boost saving
2014/05/26
Permanent Link | Comments (35)
Basketball teams compete with each other. Basketball team companies cooperate, as they should.
2014/05/23
Permanent Link | Comments (15)
The middle class is doing fine
2014/05/21
Permanent Link | Comments (13)
Has Medicaid succeeded?
2014/05/18
Permanent Link | Comments (18)
What is monetary policy?
2014/05/16
Permanent Link | Comments (0)
Rational expectations doesn't require smart people
2014/05/14
Permanent Link | Comments (11)
Never debate the impact of a price change
2014/05/13
Permanent Link | Comments (5)
The paradoxes of applying nationalism to immigration
2014/05/11
Permanent Link | Comments (21)
When ideologies change
2014/05/07
Permanent Link | Comments (19)
The economy should be "left alone to sort things out" during a recession
2014/05/05
Permanent Link | Comments (17)
The correct reason to oppose high MTRs
2014/05/02
Permanent Link | Comments (19)
Is it OK to reason from a (aggregate) wage change?
2014/04/30
Permanent Link | Comments (4)
A pragmatic view of causation
2014/04/26
Permanent Link | Comments (20)
There's only one sensible way to measure economic inequality
2014/04/24
Permanent Link | Comments (37)
German success is surprisingly recent
2014/04/22
Permanent Link | Comments (15)
Why the EMH is truer than supply and demand
2014/04/21
Permanent Link | Comments (19)
Quantum finance
2014/04/19
Permanent Link | Comments (19)
Bad news; industrial production is soaring
2014/04/17
Permanent Link | Comments (10)
Larry Summers is persuasive
2014/04/16
Permanent Link | Comments (25)
Germany's mysterious recovery
2014/04/14
Permanent Link | Comments (13)
Inequality among doctors
2014/04/10
Permanent Link | Comments (13)
Never reason from an inflation rate change
2014/04/07
Permanent Link | Comments (20)
What we are up against
2014/04/05
Permanent Link | Comments (9)
Marshall's scissors and the Law of Reflux
2014/04/02
Permanent Link | Comments (6)
One multiplier to rule them all! (apologies to Nick Rowe)
2014/03/31
Permanent Link | Comments (5)
Fracking boom won't create many manufacturing jobs
2014/03/29
Permanent Link | Comments (10)
Central banks do not deserve our respect
2014/03/27
Permanent Link | Comments (10)
Adding a risk mandate: A 5 bumper shot in billiards?
2014/03/26
Permanent Link | Comments (9)
Endless bubbles?
2014/03/24
Permanent Link | Comments (22)
Are ZMP workers uneducated or unmotivated?
2014/03/22
Permanent Link | Comments (21)
Why we debate the unimportant issues
2014/03/20
Permanent Link | Comments (35)
The Legacy of Milton Friedman
2014/03/18
Permanent Link | Comments (22)
How the interest rate increase of 2015 caused the Great Recession
2014/03/13
Permanent Link | Comments (16)
Economics must be harder than it looks
2014/03/11
Permanent Link | Comments (23)
The old rules still apply (What the rest of the profession could learn from Ben Bernanke)
2014/03/10
Permanent Link | Comments (18)
Krugman slides deeper into old Keynesianism
2014/03/06
Permanent Link | Comments (6)
Unemployment was 9.0% in May 1975, and money was too easy
2014/03/06
Permanent Link | Comments (11)
NGDP targeting is not a "fragile" policy
2014/03/05
Permanent Link | Comments (25)
Is Abenomics working?
2014/03/03
Permanent Link | Comments (14)
The mysterious rise in youth unemployment
2014/03/01
Permanent Link | Comments (20)
Does happiness cause income?
2014/02/27
Permanent Link | Comments (18)
Williamson pulls rank on Yglesias
2014/02/26
Permanent Link | Comments (11)
Australia's auto industry collapses as America's booms
2014/02/25
Permanent Link | Comments (17)
Was Mishkin the Benjamin Strong of 2008?
2014/02/24
Permanent Link | Comments (6)
The Keynesian information bubble
2014/02/23
Permanent Link | Comments (32)
The 2008 transcripts: The real issues
2014/02/22
Permanent Link | Comments (21)
Bastiat just rolled over in his grave
2014/02/18
Permanent Link | Comments (30)
In the 1930s it seemed "obvious" that financial turmoil had caused the Great Depression
2014/02/17
Permanent Link | Comments (19)
Questions that have no answer
2014/02/15
Permanent Link | Comments (11)
Krugman and Gruber are deeply confused about "voluntary" job losses
2014/02/15
Permanent Link | Comments (12)
Never reason from a price change, example #305
2014/02/14
Permanent Link | Comments (11)
Immaculate inflation and immaculate growth
2014/02/13
Permanent Link | Comments (7)
Why do booms feel good?
2014/02/10
Permanent Link | Comments (24)
OK, now I'm really confused (the snake and the peg)
2014/02/07
Permanent Link | Comments (12)
The ECB is steering the economy (plus a survey of nautical metaphors)
2014/02/04
Permanent Link | Comments (23)
Where the Stress Falls
2014/02/02
Permanent Link | Comments (3)
Keynesian confirmation bias
2014/01/30
Permanent Link | Comments (11)
Why so glum?
2014/01/28
Permanent Link | Comments (16)
Chinese families move from nice neighborhoods to slums, for the schools.
2014/01/27
Permanent Link | Comments (15)
NGDP isn't "the economy"
2014/01/25
Permanent Link | Comments (24)
Don't expect too much from inflation
2014/01/23
Permanent Link | Comments (9)
Imagine there's no economic inequality
2014/01/20
Permanent Link | Comments (25)
Eighty years later and the results are the same
2014/01/17
Permanent Link | Comments (5)
Why are Keynesians so far-sighted?
2014/01/14
Permanent Link | Comments (17)
Do barriers create "bubbles?"
2014/01/12
Permanent Link | Comments (25)
Market monetarism in 2013
2014/01/10
Permanent Link | Comments (7)
Summers believes we can reduce bubbles with big budget deficits.
2014/01/07
Permanent Link | Comments (16)
Another disappointing reaction to The Great Market Monetarist Experiment
2014/01/04
Permanent Link | Comments (24)
Keynesianism: It's not just resting
2014/01/03
Permanent Link | Comments (43)
Don't follow the money
2014/01/01
Permanent Link | Comments (50)

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