This paper examines the role that language--or rhetoric-- played in various debates over inflation, concluding that the analysis of the structure of persuasiveness in economics would repay more systematic investigation

This essay examines Milton Friedman's influence as a political economist, focusing attention on his (and George Stigler's) avoidance of a 'regression race' over the merits of imperfect competition, his persuasive use of Walrasian language, and his successful prediction that inflation would be...

This paper argues that the inflation-unemployment trade-off is not a policy proposition that can be found in Keynes' writings. The policy of tolerating ongoing inflation (as opposed to a reflationary once-and-for-all increase in the price level), in the hope that unemployment will be reduced,...

The Taylor rule has revolutionized the way many policymakers at central banks think about monetary policy. It has framed policy actions as a systematic response to incoming information about economic conditions, as opposed to a period-by-period optimization problem. It has emphasized the...