Dehomogenizing deflation

From Selgin, Lastrapes, and White: The postwar eradication of deflation would count among the Fed’s achievements were deflation always a bad thing. But is it? Many economists appear to assume so. But a contrasting view, supported by a number of recent studies, holds that deflation may be either harmful or benign depending on its underlying […]

Falling LFPR isn’t a huge deal

LFPR is low. That’s all over the news these days. Mostly just conservative pundits trying to downplay the economic recovery. Now, there are good reasons to downplay the recovery. Zero percent interest rates for 80+ months with no end in sight—that’s a much better reason. But that aside, the low (and even falling) LFPR alone just […]

Faithful presence (anti-“culture war”)

From James Davison Hunter: Christians need to abandon talk about ‘redeeming the culture’, ‘advancing the kingdom’, and ‘changing the world’. Such talk carries too much weight, implying conquest and domination. If there is a possibility for human flourishing in our world, it does not begin when we win the culture wars but when God’s word […]