Stackerseen ×2NEW
The Money Illusion: A Review (TDE 2022, Den Throwback Tuesday)(aier.org)
Scott Sumner's book "The Money Illusion" challenges conventional wisdom about the Great Recession, arguing that it was not caused by factors such as greedy bankers, deregulation, or the Federal Reserve's easy money policy. Instead, Sumner contends that monetary mismatches played a significant role in the recession, and he takes readers on a journey through the macroeconomic past to illustrate his point. The book provides a primer on the concept of money and how economists think about inflation, ultimately serving as a manifesto for a new approach to monetary policy, known as market monetarism, which offers a fresh perspective on the Great Recession and its implications for the future of economic policy.