Rethinking "Sticky Prices" and Monetary Disequilibrium
About this episode
Dr. Jonathan Newman joins the Human Action Podcast to discuss his recent QJAE article disputing the claim that 'sticky prices' prevent markets from clearing--i.e., when the quantity supplied equals the quantity demanded. Dr. Newman applies Mises’s “plain state of rest” to show that each voluntary exchange equates quantities supplied and demanded, so observed “stickiness” doesn’t imply non-clearing markets.
- "There Ain't No Such Thing as a Sticky Price": Mises.org/HAP525a
The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
Get every episode summarized
Each time The Human Action Podcast publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from The Human Action Podcast
Robert Aro on the Fed's Reverse Repo Trick
The Human Action Podcast
Luke Gromen on the Strait of Hormuz and Supply Chain Collapse
The Human Action Podcast
Bob Responds to Randall Wray on Sectoral Balances
The Human Action Podcast
Cantillon Effects and the Politics of Money Creation
The Human Action Podcast