Public goods, private goods, and keeping up with economics

My latest column for MinnPost sets out current thinking on public goods, private goods, and all the types of goods in between. This column illustrates a problem I run across regularly when I talk to people about economics: policymakers and those who cover economic policy don't keep up with our field. They took introductory economics, or even minored or majored in economics, 20 to 50 years ago … [Read more...]

Inflation! Debasement! June edition

Hyperinflation-era German currency Source: Flikr Creative Commons It's time for the June edition of the inflation! debasement! update.  Speaker of the House Paul Ryan warned that, no matter what the data tell us, accelerating inflation and a depreciating currency are just around the corner.  Here are the latest data through June 2016: Inflation: same 12-month rate as in May, April and … [Read more...]

They paved paradise

Years ago (think late 1960s and early 1970s), I collected stamps.  I learned much about a variety of subjects looking at them and learning about the events, people, and places they displayed.  One that struck me was this: Being young and ignorant, I was puzzled: there was a Golden Gate without a bridge?  Well, yes, of course there was: (By Ansel Adams, from Flikr) "The Golden Gate is One of … [Read more...]