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My Op Ed with Professor James Heckman Prof. James Heckman wsj.com/opinion/the-re…

Three major liquidity crises shown as spikes in the provision of dollars from the Federal Reserve. The 2012 sovereign debt crisis is dwarfed by the 2008 crisis and the covid effect on financial markets

My initial comments on today's big ruling in our case against Trump's "Liberation Day" tariffs, with key excerpts from the decision: reason.com/volokh/2025/05…

ChatGPT strongly suggested the paper "Caplin, A., & Leahy, J. (2000). A Graphical Model of the Consumption-Savings Decision." Great! Didn't know about this paper by Caplin and Leahy. It turns out... it doesn't exist! 😄 Beware of AI hallucinations

As my thread in reply to Steven suggests, I reject the popular view that governments' determine what people use as money (generally exchange media) simply by declaring what media taxes must be paid in. Here I elaborate w/ a more formal argument.

This article is about Júlia, my daughter. She's stuck in visa limbo in the UK, due to a mistake by UCL and the Home Office's slowness, incompetence & arrogance. 7 months unable to work or leave the UK. Hope visibility here pushes the HO to take action.

Congratulations, Russ Roberts (Russ Roberts) on the 1000th episode! There is always risk when we start something new, and certainly there was in 2006. How well it worked out! Best wishes

I knew only the close-up of the picture, but the full view of the line of tanks gives a better sense of the magnitute of the act of defiance

Bulgaria to join the euro on January 1, 2026. Money matters ecb.europa.eu/press/pr/date/…

Fannie and Freddy WSJ Oped, now at Grumpy grumpy-economist.com/p/fannie-and-f…

"The US put 50 per cent tariffs on steel and aluminium this week" - the biggest self-inflicted negative shock EU hit by surge in steel imports as US tariffs divert shipments ft.com/content/6ffe2b… via @ft

Bulgaria will join the euro zone in January 2026. However, the euro banknotes have featured the word euro in Cyrillic since 2007. It took some time, but there was a strong prediction that the euro would circulate in Bulgaria sooner or later

Great to be back at a running event! Better yet in this inspiring location reminiscent of the discoveries toward the Atlantic. 10k in 53'!

Among countless other things that make me happy about it, Poland did it without an "industrial policy". Just stable policy, modest but consistent growth, the craziness of our politicians restrained by the EU, and a broad-based economy - you can't point to one sector driving it

ג'באליה 2025? לא. ברלין 1945? לא. זה הרובע ברונקס בעיר ניו יורק, בתקופה של פיקוח על שכר דירה. רגע לפני בחירתו הצפויה של קומוניסט (אנטישמי) לראשות עיריית ניו יורק, הכלכלנים נזעקים.