Wednesday, August 03, 2011

New Retro Government Policy, How Nostalgic

Alex Tabarrok at Marginal Revolution points to this item at the American Economic Association website:


Job Openings for Economists (JOE) has been published only electronically for the past decade. Starting with the August 2011 issue, JOE will resume publishing in print format to ensure compliance with U.S. Department of Labor regulations for obtaining work visas for non-citizen economists. Print issues will be distributed via the U.S. Postal System two to three weeks after they are published electronically. 

MP: Maybe it's a government plot to help save the Post Office?

HT: Mike Kelley


At 8/04/2011 11:49 AM, Blogger Benjamin Cole said...

OT, but timely.

inflation is dead, and will be dead, along with interest rates for some time. We are becoming the United States of Japan.

BTW, I have been thinking of a long-ago book by George Gilder, "Wealth & Poverty." In it, Gilder exults about boom times, in which innovation flourishes, and also dismisses worries about inflation. (Gilder was a Reaganaut hero, in the days when 5 percent inflation was considered a victory).

As Gilder pointed out, what is more important than minute rates of inflation is freedom for capitalism, innovation and entrepreneurship. You ain't going much of any in a perma-recession. Gilder almost exulted in the fact the growth booms and innovations booms were often linked to inflation.

Gilder even chided Milton Friedman for speaking darkly to Commie officials in Russia (after the fall, on a joint trip there) about the need to "control" the Russian money supply. "The commies don't need to be lectured to about control," huffed Gilder. "They know all about control. They need to be talked to about opening thing up, entrepreneurship, and less control." Friedman came off as some loony obsessed with money, when what Russia needed was advice and encouragement on how to start up a vibrant business creation culture.

Gilder is right. Certainly the sad eclipse of Japan is a reminder that control of the money supply can easily become too tight.

More important than championing minute rates of inflation is championing growth, innovation, prosperity and optimism.

At 8/04/2011 12:25 PM, Blogger Ron H. said...

You're absolutely right, Bunny!

It's OT.

At 8/04/2011 1:12 PM, Blogger Benjamin Cole said...


But timely!

Re-read, or read for the first time, George Gilder's "Wealth & Poverty." BTW, you won't sully yourself--he was a Reaganaut favorite.

But when shag hairdos and pastel pants were hot.

At 8/04/2011 3:44 PM, Blogger Paul said...

Thanks for the 30 yr old book review, Benji. I agree it's a great book, I read it in high school. Your boyfriend should have read it, but he read "Rules for Radicals" instead.


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