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Scott Sumner
Sumner in a 2016 video by the Mercatus Center
Born
1955 (age 68–69)
Academic career
Institutions
Bentley University
Mercatus Center
Independent Institute
Field
Monetary economics
School or tradition
Market monetarism
Alma mater
University of Wisconsin (B.A.) University of Chicago (Ph.D.)
Influences
Milton Friedman
Information at IDEAS / RePEc
Scott B. Sumner (born 1955) is an American economist. He was previously the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, a Research Fellow at the Independent Institute, and a professor at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion,[1] popularized the idea of nominal GDP targeting, which says that the Federal Reserve and other central banks should target nominal GDP, real GDP growth plus the rate of inflation, to better "induce the correct level of business investment".[2]
In May 2012, Chicago Fed President Charles L. Evans became the first sitting member of the Federal Open Market Committee (FOMC) to endorse the idea.[3]
After Ben Bernanke's announcement of a new round of quantitative easing on September 13, 2012, which open-endedly committed the FOMC to purchase $40 billion agency mortgage-backed securities per month until the "labor market improves substantially", some media outlets began hailing him as the "blogger who saved the economy", for popularizing the concept of nominal income targeting.[4]
^"It's all demand side".
^Greeley, Brendan (November 1, 2012). "The Blog That Got Bernanke to Go Big". Bloomberg Businessweek. Archived from the original on November 5, 2012.
^O'Brien, Matthew (May 2, 2012). "A Rebellion at the Federal Reserve?". The Atlantic.
^Thompson, Derek (September 14, 2012). "The Blogger Who Saved the Economy". The Atlantic.
Scott B. Sumner (born 1955) is an American economist. He was previously the Director of the Program on Monetary Policy at the Mercatus Center at George...
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contemporary gross domestic product (GDP). For example, economic blogger ScottSumner noted in 2018 that Rockefeller was worth $1.4 billion when he died in...
The caning of Charles Sumner, or the Brooks–Sumner Affair, occurred on May 22, 1856, in the United States Senate chamber, when Representative Preston Brooks...
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1861, Sumner wrote to President-elect Abraham Lincoln, advising him to carry a weapon at all times. Lt. Gen. Winfield Scott assigned Sumner as the senior...
economists who advocated a nominal income target for monetary policy. ScottSumner, a Bentley University economist and one of the most vocal advocates of...
movement. However, some journalists and economists like Noah Smith and ScottSumner have argued Friedman's academic legacy has been buried under his political...
was subsequently advocated by American economists Edmund Phelps and ScottSumner, by American policy advisor Oren Cass, and by British economist Tony...
dollar-denominated commodity prices, a notion supported by others, such as ScottSumner. U.S. Federal Reserve economists assert that the liquidity trap can explain...
Charles Sumner (January 6, 1811 – March 11, 1874) was an American lawyer, politician, and statesman who represented Massachusetts in the United States...
proposed by James Meade (1978) and James Tobin (1980), was advocated by ScottSumner and reinforced by the market monetarist school of thought. So far, no...
Brunner Phillip D. Cagan Harry G. Johnson Allan H. Meltzer David Laidler ScottSumner New economic history Douglass North Robert Fogel Robert M. Townsend New...
wake of the 2008 financial crash by a group of economists (most notably ScottSumner) whose views came to be known as market monetarism. They claimed that...
prediction market." As explained in the announcement: "Mercatus Center's ScottSumner and David Beckworth have made the case that an alternative monetary policy...
women's basketball coach and Naismith Basketball Hall of Fame member ScottSumner, noted economist and professor Peter Yetten, Bentley football coach from...
Institution, September 1980–present 1971. Economics: Analysis and Issues. Scott Foresman & Co. 1972. Black Education: Myths and Tragedies. David McKay Co...
Brunner Phillip D. Cagan Harry G. Johnson Allan H. Meltzer David Laidler ScottSumner New economic history Douglass North Robert Fogel Robert M. Townsend New...
Brunner Phillip D. Cagan Harry G. Johnson Allan H. Meltzer David Laidler ScottSumner New economic history Douglass North Robert Fogel Robert M. Townsend New...
production Randy Lynch — audio production Shaggy 2 Dope — audio production ScottSumner — producer, mixing, audio production Fritz the Cat — producer, mixing...
Brunner Phillip D. Cagan Harry G. Johnson Allan H. Meltzer David Laidler ScottSumner New economic history Douglass North Robert Fogel Robert M. Townsend New...
Brunner Phillip D. Cagan Harry G. Johnson Allan H. Meltzer David Laidler ScottSumner New economic history Douglass North Robert Fogel Robert M. Townsend New...
Giant anaconda February 3, 2009 (2009-02-03) Animal rights activists ScottSumner and Evan Medcaf investigate allegations of illegal animal trading in...
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