1) Of course those are useful things, but lack of them doesn’t seem like a serious issue currently, do I underrate such problems?
2) Fair enough.
2b) I would prefer it if you used more neutral language to describe our disagreements. Here’s a good reason for you to do this: neutral language makes me less likely to get defensive and thus makes it psychologically easier for me to agree with you.
3) The NGDP thing: obviously I do not view NGDP as fundamental, which is why I usually talk about ‘monetary disequilibrium’ instead. I do think that NGDP targeting is better than currently used targets, and I haven’t been able to think of significantly better rules for the money supply (including ‘known increase in the quantity of money’, like bitcoin).
1) Of course those are useful things, but lack of them doesn’t seem like a serious issue currently, do I underrate such problems?
2) Fair enough. 2b) I would prefer it if you used more neutral language to describe our disagreements. Here’s a good reason for you to do this: neutral language makes me less likely to get defensive and thus makes it psychologically easier for me to agree with you.
3) The NGDP thing: obviously I do not view NGDP as fundamental, which is why I usually talk about ‘monetary disequilibrium’ instead. I do think that NGDP targeting is better than currently used targets, and I haven’t been able to think of significantly better rules for the money supply (including ‘known increase in the quantity of money’, like bitcoin).