Good ideas don’t always outcompete bad ones. But willful foolishness usually has a cost. So it is with modern monetary theory. Ironically, this basket of economic fallacies, embraced by policymakers ...

Beyond benchmark measures like employment, growth, and inflation, economics encompasses the full spectrum of humanity. It affects—and reflects—everyone. Central bankers may be most acutely aware of ...

“I didn’t see the evidence. Moreover, basic market theory says larger labor supply, lower price. Your theory is smaller labor supply, lower price. It would take a lot of evidence and analysis to ...