Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.

I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.

Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst.

It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost.

People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.

Friedrich Hayek is not an important figure in the history of macroeconomics.