The Quantity Theory of Money and Fears of Inflation Are Nonsense

We rarely get to conduct scientific experiments in economics, but for the last 3+ years The Federal Reserve has unintentionally conducted a test of an economic theory called the "Quantity Theory of Money" (QTM). QTM makes some very specific predictions - predictions that Ron Paul, conservatives on Wall Street, and others have been repeating a … Continue reading The Quantity Theory of Money and Fears of Inflation Are Nonsense