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Macroeconomic Inferences and the New Fed Regime
Under what conditions can we make valid inferences about the state of the economy from macroeconomic data? As it turns out, this seemingly unproblematic procedure becomes difficult when policy makers have got their eye on the data, too. This applies to all macroeconomic policy, but it is especially relevant to monetary policy. Goodhart’s law states, […]
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Why Aren’t Anti-Money-Laundering Regulations Adjusted for Inflation?
Banks and other financial institutions are required by law to implement measures for catching money launderers. Over the decades, these obligations have been getting more onerous due to new rules and the tightening of existing rules. They have also become more onerous because of inflation. Anti-money-laundering (AML) rules set a number of fixed-dollar trigger points. […]
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Who Was Bastiat? Interview with David Hart (Video)
David Hart is an historian and a libertarian with interests in the history of the classical liberal tradition (especially the French), war and culture, libertarian class theory, and film. Frédéric Bastiat was a pivotal figure in French classical liberalism in the mid-19th century. He suddenly emerged from the south west province of Les Landes to […]
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