Category: Uncategorized

Bernanke v. Kindleberger: Which Credit Channel?

In the 1983 paper cited as the basis for Bernanke’s Nobel award, the first footnote states:  “I have received useful comments from too many people to list here by name, but I am grateful to each of them.”  One of those unnamed commenters was Charles P. Kindleberger, who taught at MIT full time until mandatory […]

Making Finance Visible, a review of Brine and Poovey

Brine, Kevin R. and Mary Poovey.  Finance in America, an unfinished story.  University of Chicago Press, 2017. The authors of this book are respectively a non-academic Wall Street practitioner and a non-economist academic, but the text is nonetheless of considerable interest to economists and in particular to historians of economics since it represents an outsider […]

Cryptos Fear Credit

Proposals for monetary reform, whether mild or radical, are always and everywhere informed by some underlying theory of money.  A week ago I spent two days talking with a group of technologists and lawyers–perhaps I should say digital coders and legal coders–and pressed them on this point.  Chatham House rules prevent me from associating views […]