11 - Robert Hetzel on Milton Friedman, the Monetarist-Keynesian Debate, and the 2008 Crisis

11 - Robert Hetzel on Milton Friedman, the Monetarist-Keynesian Debate, and the 2008 Crisis

Robert Hetzel is a senior economist and research advisor at the Richmond Federal Reserve Bank where he has worked since 1975. He joins the show to discuss the rise of monetarism and how Milton Friedman, his dissertation advisor, shaped his thinking on macroeconomics. Monetarism challenged the conventional Keynesian consensus in the 1970s and caused Keynesians to reformulate their views into a new doctrine called, "New Keynesianism." However, in the wake of the Great Recession, "Old Keynesianism" has made a comeback. Hetzel pushes back against the Keynesian resurgence and explores other explanations of the 2008 crisis. David's blog: http://macromarketmusings.blogspot.com/ David's Twitter: https://twitter.com/DavidBeckworth Robert Hetzel's biography: https://www.richmondfed.org/research/economists/bios/hetzel_bio Related links: https://www.richmondfed.org/~/media/richmondfedorg/publications/research/economic_quarterly/2012/q2/pdf/hetzel.pdf https://www.richmondfed.org/~/media/richmondfedorg/publications/research/economic_quarterly/2009/spring/pdf/hetzel2.pdf https://www.amazon.com/Program-Monetary-Stability-Milton-Friedman/dp/0823203719

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Andy Levin on the Importance of an Independent Inspector General at the Federal Reserve - BONUS

Andy Levin on the Importance of an Independent Inspector General at the Federal Reserve - BONUS

Andy Levin is an advisor to many central banks around the world and professor of economics at Dartmouth College. Andy returns to the show for a special bonus episode to discuss his pervious appearance...

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Matthew Pines on the Future of Money, AI, and Monetary Policy

Matthew Pines on the Future of Money, AI, and Monetary Policy

Sign up for the Bitcoin Policy Summit with our special Macro Musings Discount Code! Matthew Pines is the executive director of the Bitcoin Policy institute. Matthew returns to the show to discuss the...

16 Kesä 202553min

Peter Conti-Brown and Sean Vanatta on the History of Bank Supervision in America

Peter Conti-Brown and Sean Vanatta on the History of Bank Supervision in America

Peter Conti-Brown is a historian and legal scholar of the Federal Reserve System, and an associate professor at the Wharton School of Business at the University of Pennsylvania. Sean Vanatta is a seni...

9 Kesä 20251h 3min

George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

George Selgin on Contextualizing the Great Depression and its Implications on Monetary Policy Today

George Selgin is a senior fellow and director emeritus at the Center for Monetary and Financial Alternatives at the Cato Institute, as well as the author of the new book titled False Dawn: The New Dea...

2 Kesä 20251h 12min

Daniel Bunn on Fiscal Issues Currently Facing the US Government

Daniel Bunn on Fiscal Issues Currently Facing the US Government

Daniel Bunn is the president and CEO of the Tax Foundation. In Daniel's first appearance on the show, he discusses the history of tax models, the threat that tariffs make to the US economy, where we c...

26 Touko 202549min

Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

Luca Fornaro on Hysteresis, Endogenous Growth, and Aggregate Demand Policies

Luca Fornaro is a senior researcher at CREI and professor at both UPF and the Barcelona School of Economics. In Luca's first appearance on the show, he discusses his expansive work on, hysteresis, sta...

19 Touko 20251h

Adam Ozimek on Reforming the High-Skilled Immigration Process

Adam Ozimek on Reforming the High-Skilled Immigration Process

Adam Ozimek is the Chief Economist at the Economic Innovation Group. Adam returns to the show to discuss the importance of reforming the high-skilled immigration process, the main bottlenecks with our...

12 Touko 202559min

Skanda Amarnath on the Future of the Federal Reserve and its Framework

Skanda Amarnath on the Future of the Federal Reserve and its Framework

Skanda Amarnath is the executive director of Employ America. Skanda returns to the show to discuss the standing of Humphrey's Executor, the prospects for the Fed's Framework Review, the case for NGDP ...

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