Presentation to the Western Economic Association International, San Francisco, CA, July 2, 2012

Presentation to Town Hall Los Angeles, Los Angeles, CA, May 4, 2011

Presentation to the Western Economic Association International, San Francisco, CA, July 2, 2012

Presentation to Town Hall Los Angeles, Los Angeles, CA, May 4, 2011

Textbook monetary theory holds that increasing the money supply leads to higher inflation. However, the Federal Reserve has tripled the monetary base since 2008 without inflation surging. With interest rates at historically low levels and the economy still struggling, the normal money multiplier...