Banking's Past, Present, and Future
In a very entertaining piece in this weekend’s Wall Street Journal, Joe Queenen gripes about how economists measure inflation. He starts by lamenting the high cost of everything from gas, to bagels, to coffee. “You can imagine my surprise,” he continues, “when the latest economic data came out and we were told that inflation wasn’t … Read more
The Wall Street Journal has demonstrated nostalgia for the gold standard by publishing two pro-gold standard opinion pieces this week. Both are long on nostalgia and short on analytical content. On Tuesday, long-time gold enthusiast Lewis Lehrman made his pitch, arguing that a return to the gold standard was necessary to restore fiscal balance. I … Read more