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February 02, 2009


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Professor Maurer, I have a question.
What do you think of this analysis?


Being that I took all of one undergraduate class of economics, I have no clue as to its worth.

Sorry about the delay. I'm pretty busy these days, unfortunately.

I just skimmed it, but here's what he seems to be saying:

(1) Changes in the price level can redistribute income;

(2) Unexpected inflation can cause changes in real economic activity;

(3) The velocity of money is unstable.

This is not new. Nor is it outside the mainstream. So I don't understand why he's making himself out to be some sort of iconoclast. Makes me kinda suspicious.


The reason I asked is this; it's being bandied around one of my blogging circles with the entire hysteria going on right now. Unlike most of the stuff, I couldn't just dismiss it out of hand as crankwork.

Really, there are parts of the blogosphere right now where otherwise intelligent people are acting as if a new apocalypse is aborning, complete with "The End is Nigh" Excel spreadsheets.

Peter probably knows who I'm referring to here.

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