Battle of the Economics Bloggers
The gladiatorial arena that is macroeconomics blogging is always exciting. One crowd-pleaser is Scott Sumner, a professor at Bentley University, who is the champion fighter of a team that calls itself the market monetarists. They believe that it’s the Federal Reserve’s job to fight recessions, doing whatever it takes in the way of monetary easing in order to get nominal gross domestic product (click on the link for a full explanation) back to a healthy trend. They fight a running battle with a group loosely known as the Keynesians, who believe that the Fed can’t do the job on its own, and needs help from Congress in the form of fiscal stimulus.
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