Arnold Kling tentatively postulates that central banks can, at most, select between a low-stable inflation regime and a high-variable inflation regime. Bryan Caplan proposes a quick test, which I hereby supply. Below are some scatterplots of inflation variance versus inflation means for 176 countries. The data is from the World Bank, which gets it from [...]

Tags: Caplan, IMF, inflation, Kling, monetary policy, World Bank
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Two of my favorite intellectuals, Arnold Kling and Richard Epstein, have each offered opinions on how to “improve” soccer. I am dismayed and disappointed. Their proposals are not for modest changes (e.g., electronic assistance for the referee) that would preserve the basic feel of the game. Instead, they want to induce “more scoring” (Kling) and [...]

Tags: baseball, Epstein, Kling, meddlesomeness, rant, soccer
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All the cool people read this book when it came out in November, but I just finished it now. It is truly excellent. It is my new go-to what-is-economics-all-about recommendation. Buy it now in hardcover or Kindle format.

Tags: books, economics, From Poverty to Prosperity, Kling, Schultz
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