A big and embarrassing challenge to DSGE models is Alex Tabarrok’s latest post at Marginal Revolution. Tabarrok comments on a paper that finds two…
A cost-price theory is not the same than a labor theory of value
Some corners of the Bitcoin community challenge the conventional or textbook definition of money. This is not a fringe position, even Bitcoin.org states…
A cost-price theory is not the same than a labor theory of value
According to the Financial Times, Argentina and Brazil are about to start preparations for a common currency (in principle called Sur). If the past is…
A cost-price theory is not the same than a labor theory of value
My latest at the Sound Money Project is on more interest rate hikes ahead. The Bureau of Economic Analysis released its latest personal consumption…
A cost-price theory is not the same than a labor theory of value
I spent the weekend discussing work on state capacity with a group of scholars and academics. Most of the discussion focused on what state capacity is…
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It is important to be conscious about assumptions used in different arguments.
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While advocates of dollarization in Argentina recognize that adopting the US dollar as the country’s legal tender currency is not sufficient to end a…
A cost-price theory is not the same than a labor theory of value