In praise of anonymous money

A while back I was paying for gas at a nearby gas station when the clerk fumbled my credit card. When he bent down to pick it up he momentar...

The French shareholder revolution

I recently stumbled on a new and innovative capital structure that, as far as I can tell, only exists in France. Since 2011, French beauty g...

Is the Fed breaking the law by paying too much interest?

George Selgin had an interesting post describing how the Fed appears to be breaking the law by paying too much interest to reserve-holders....

What finance can learn from automakers

Arnold Kling is appalled by Lynn Stout, who accuses Wall Street of providing too much liquidity: Wall Street is providing far more liquidi...

Kocherlakota on cash

Narayana Kocherlakota, formerly the head of the Federal Reserve Bank of Minneapolis and now a prolific economics blogger, penned a recent ar...