Well, we don’t have one, at least not one yet.

The recent spike in inflation is prompting something akin to soul-searching among practitioners of economics. Here recent paper by Jeremy Rudd, staff economist at the Fed, basically saying there is no evidence inflation expectations have any bearing on actual inflation…

I am a big fan of fiat money. In my view, it is the most underrated innovation in human history, innovation that has contributed tremendously to the prosperity and lifestyle we enjoy today. That’s because fiat money enables us to imagine the future and make that future a reality. …

Ergodicity Economics (EE) is bringing some excitement to decision-theory nerds like myself. Basically, EE attempts to dispense with the concept of utility altogether. My view is that we shouldn’t throw away the baby with the bathwater. Here, I will share my work on utility and how it complements EE.

First…

Val Popov

Thoughts on money and the economy. Follow @HPublius

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