This blog posting differs from all my other ones. It describes a recent program that a Lawrence colleague and I organized to fit into Lawrence’s 2 week December term program. The official title: Entrepreneurship in London: From the Mayflower to Brexit. The official photographer for the above photo was Chris Finkler. We had a marvelous … More London: Entrepreneurship and Regeneration
Economists have been asking this question for well over a century (or perhaps since Sweden established the Riksbank in 1668.) The answers have changed over time; however, in the 1990s, economists seemed to have reached a consensus that price stability is the primary objective, if not the sole objective, for central banks. Clearly, the financial … More What Should Central Banks Do? Central Bankers Volcker, Mishkin, Rajan, and King Provide Excellent Guidance.
This piece was originally posted on the Lawrence Economics blog in 2012. This version has been updated in many places; however, the effects discussed in that posting remain a major concern today. Political pressure to not only keep interest rates low but to lower them further seem unstoppable, especially since the eventual economic consequences are not … More Low Interest Rates: The Addictive Policy Drug of Choice