Economics Questions

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

axiomata — Mon, 27 Apr 2009 20:10:29 GMT

Seems I had to just give the guys time.

Murphy: http://mises.org/story/3432

Mish: http://globaleconomicanalysis.blogspot.com/2009/04/time-for-mankiv-to-resign.html

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

nirgrahamUK — Mon, 27 Apr 2009 17:24:00 GMT

(Please visit the site to view this media)

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

nandnor — Mon, 27 Apr 2009 17:13:32 GMT

short term gain = people can consume and waste the last few savings that are present in the economy, before going belly up

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

DD5 — Mon, 27 Apr 2009 16:48:44 GMT

liberty student:

axiomata:
http://www.nytimes.com/2009/04/19/business/economy/19view.html?_r=1&em I'm hoping some Austrian economists will offer some criticism of this editorial.

Peter Schiff steps up

http://www.lewrockwell.com/schiff/schiff18.html

Peter Schiff: "At best such a plan trades short-term gain for long-term pain"

I don't like it when he or any "Austrian' says that, because I don't even see the "short-term" gain. Maybe someone can enlighten me?

If anything, it's more of a political short-term gain only. People deceived further into believing that things are getting better cannot be a short-term gain. I think this is a short-term and a long-term disaster, period!

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

liberty student — Mon, 27 Apr 2009 05:18:36 GMT

axiomata:
http://www.nytimes.com/2009/04/19/business/economy/19view.html?_r=1&em I'm hoping some Austrian economists will offer some criticism of this editorial.

Peter Schiff steps up

http://www.lewrockwell.com/schiff/schiff18.html

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

krazy kaju — Mon, 20 Apr 2009 21:42:08 GMT

Mankiw has been a good guy for the most part. He's always believed in activist monetary policy, which is probably why he supports the negative interest rate. The Taylor rule is demanding something like a -6% Fed Funds rate right now.

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

nirgrahamUK — Mon, 20 Apr 2009 20:24:58 GMT

it was probably due to him being keynesian that he wrote the article

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

axiomata — Mon, 20 Apr 2009 17:50:53 GMT

I had a mostly positive opinion of him as well before this article, which is why I wonder what convinced him to write this article. It's one thing to have this discussion with a grad student as a thought experiement, it is quite another to propose it in an editorial for the NYTimes.

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

hayekianxyz — Mon, 20 Apr 2009 15:40:18 GMT

I like Mankiw, his macro textbook is relatively good for a mainstream economist.

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

MatthewWilliam — Mon, 20 Apr 2009 02:38:51 GMT

axiomata:
I didn't write clearly what I was thinking in my head. I've seen many blog entries or articles systematically break down Krugman's articles. and I was wondering if anyone is working on publishing a criticism of this one.

Hopefully Bob Murphy will take on that task. He suggested he would: http://consultingbyrpm.com/blog/2009/04/mankiw-calls-for-inflation.html

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

eliotn — Mon, 20 Apr 2009 02:27:00 GMT

liberty student:
It's a resource problem. People get paid to write statist BS. People who refute it have to do it on their own dime.

Who pays these people. THE MUNCHKINY STATE?

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

liberty student — Mon, 20 Apr 2009 02:16:01 GMT

axiomata:
I've seen many blog entries or articles systematically break down Krugman's articles. and I was wondering if anyone is working on publishing a criticism of this one.

Someone might. You'll have to keep your eyes open for it. Most of the people in this forum are not the people who write these things.

It's a resource problem. People get paid to write statist BS. People who refute it have to do it on their own dime.

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

axiomata — Mon, 20 Apr 2009 01:55:01 GMT

I didn't write clearly what I was thinking in my head. I've seen many blog entries or articles systematically break down Krugman's articles. and I was wondering if anyone is working on publishing a criticism of this one.

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

krazy kaju — Sun, 19 Apr 2009 22:24:56 GMT

You have to understand the Austrian theory of the business cycle. The crisis was caused by insufficient saving and overconsumption. Why would we try to promote more consumption and less saving?

Re: Seeking comment on Makiw's recent NYT ed about negative interest rates

nirgrahamUK — Sun, 19 Apr 2009 21:49:15 GMT

its been criticised to death, its keynesianism; mises, hazzlit, reismann, rothbard, hoppe, murphy, what austrians havent criticised it?