Pragmatic Capitalism

Capital for Living a More Practical Life

Scott Sumner is…right?

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Just posting this for the true nerd who is interested. Scott Sumner has a post up discussing how the Neo Fisherian debate misses the point because it’s too focused on interest rates.

I think Scott is right. That whole debate views interest rates as the Archimedean Lever in the economy. It is a view based on the Natural Rate of Interest concept which I have been so critical of. Anyhow, I think it’s interesting when I agree with Sumner because it doesn’t happen often….

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Cullen Roche Posted by Cullen Roche
Posted on 07/17/2015 4:50 PM
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The only reason Sumner says this is because he thinks monetary policy should be implemented entirely through NGDP Targeting. He is completely and utterly biased by his policy bias.
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Posted by Anonymous
Answered on 07/19/2015 6:32 PM