The “Economy” is Much Harder to Control Than You (or Trump) Thinks

As humans, we are plagued with the innate hubris of our ability to control our world. Here's the reality: Not only do we have very little control over our own career paths, but we hardly stick to our own weekly schedule! There are far too many variables that get in the way of our plans. … Continue reading The “Economy” is Much Harder to Control Than You (or Trump) Thinks

Making Sense of Nominal GDP Targeting

Jerome Powell replaced Janet Yellen as the new Chairman of the Federal Reserve.  This change will give the Fed a chance to reconsider how it conducts monetary policy.  There had been a consensus among macroeconomists since the 1980s, but like many things, it was shattered by the Great Recession.  One alternative for the new Fed … Continue reading Making Sense of Nominal GDP Targeting

Duped Because We Don’t Know Economics

Citizens of the greatest economy in the world don’t know economics. This comes at a high price when we’re duped into accepting bad economic policies. We’re GenFKD because no one is teaching economics The public school system in the United States fails to communicate economics to the rising generation of citizens, leaving them (and us) … Continue reading Duped Because We Don’t Know Economics