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Alexander W. Salter

The nature of central banking and the importance of a monetary constitution

In my previous posts, I argued that it is imperative to secure a monetary policy regime that adheres to the rule of law.  In this post, I will extend the argument further: truly lawful money requires a monetary constitution of some kind. There is actually considerable sympathy to rules-based monetary policy contemporary macroeconomics.  However, not all monetary […]

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Max Gulker

The Unresolvable Debate on Job Creation

If you’re a political candidate, “jobs” is a word that almost guarantees applause at any rally, regardless of party.  We all agree that creating and sustaining good jobs is a key priority, but we’ve had essentially the same debate on how to do it for decades.  So why do we keep having the same debate?  Isn’t economics scientific and empirical? Shouldn’t we know who is right, based on their policies’ outcomes?

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