The Grumpy Economist

From WSJ   California Gov. Gavin Newsom ....recently put a temporary freeze on $1 billion of state grants for city and county homelessness p...

 Our great experiment in monetary economics continues.  The news of the moment is that inflation might--might--be peaking. I just present th...

Opening remarks, Conference on Academic Freedom John H. Cochrane Nov 4 2022 Welcome to the Academic Freedom Conference. I’m John Cochrane, o...

On Friday and Saturday Nov. 4/5, the Stanford GSB Classical Liberalism Initiative will host a two day conference on Academic Freedom. Confer...

Some colleagues and I created an open letter on Academic Freedom. If you share our views, you are invited to sign.  The bottom line: we call...

Larry Summers wrote an interesting  oped at the Washington Post.  Mostly, he still is of the adaptive-expectations ISLM view that interest r...

Greg Ip gives nice coverage of fiscal theory of the price level in the Wall Street Journal ..  I'm sad he left out Eric Leeper's def...

I was researching the European Stability Mechanism this morning for a paper on the evolution of the euro, and I ran across this gem of econo...

(at Project Syndicate ) The Liz Truss Tragedy The former British prime minister’s downfall holds important lessons for growth-minded policym...

  From Torsten Slok at Apollo Global Management. The picture says it all, but Torsten's commentary is especially good:  Inflation will b...

In previous blog posts here and here , I criticized UK financial regulators for missing simple leverage and margin requirements in UK pensi...

 (At National Review ) What This Year’s Nobel Economists Can Teach Us about Financial Crises This week, economists are celebrating the Nobel...

On the same page in today's WSJ: One third of DC bus riders don't bother to pay the fare . Also in New York .  The State Department ...

Update to my previous post on the UK treasury imbrogli o:  The Bank of England explains,  saying about as much as I did. Pension funds lever...

Policy Tensor on the consequences of a Russian nuke ( HT Marginal Revolution ) was very interesting:  Consider the least escalatory option,...

Nobel Prize season is around the corner. Last year, I blogged in favor of Tom Sowell . I update, with some edits.  Dear Nobel Committee: How...

Guy Adams in the Daily Mail has an intriguing story of what's going on in UK bond markets.  It's intriguing because it's so utte...

  Mark Perry recently updated a fabulous chart:  Not all inflation is the same.  Some interpretations, from Mark. Tradeable (international ...

Now that 30 days have passed, I can post the full text of "Nobody Knows How Interest Rates Affect Inflation" in the Wall Street Jo...

I was for Fixit, not Brexit. The EU is a great idea. They put together articles of confederation, empowering an out of control bureaucracy. ...