#time inconsistency

[econ307]

Here is a new concluding section which I have just written for my paper “Rules versus Discretion in Monetary Policy: Historically Contemplated” which I spoke about last September at the…

[econ307]

The New York Times has previously reported that many European countries have funneled ransoms to terrorists to rescue their citizens, a tactic the United States has steadfastly refused to pursue, arguing that it encourages more kidnappings.

[jimrosenz]

Tom Sargent’s 14 lessons from economics for public policy

Tom Sargent’s 14 lessons from economics for public policy

Tom Sargent is a life-long Democrat who is old enough to remember when Democrats were fiscal conservatives.

At a graduation speech at Berkley, Sargent listed these lessons:

Many things that are desirable are not feasible.

Individuals and communities face trade-offs.

Other people have more information about their abilities, their efforts, and their preferences than you do.

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