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Scott Sumner

Affiliation: Bentley University

Scott Sumner has taught economics at Bentley University for the past 27 years.

He earned a BA in economics at Wisconsin and a PhD at University of Chicago.

Professor Sumner's current research topics include monetary policy targets and the Great Depression. His areas of interest are macroeconomics, monetary theory and policy, and history of economic thought.

Professor Sumner has published articles in the Journal of Political Economy, the Journal of Money, Credit and Banking, and the Bulletin of Economic Research.

Visit: TheMoneyIllusion




Scott Sumner's Latest Articles | 314

Warren Buffett Faces a 90% Plus Tax Rate

Sep 10, 2011| 

I actually don’t know the exact tax rate, but from what I can tell it’s probably well in excess of 90%.  Unfortunately, Warren Buffett seems to know little... Read »

A Missed Opportunity

Sep 9, 2011| 

It was even worse than I expected.  I expected one good thing (an employer-side payroll tax cut) and lots of ineffective demand stimulus measures.  The actual... Read »

The Fed Needs to Stop Trying to Reduce Interest Rates

Sep 7, 2011| 

Here are two possible messages from the upcoming September Fed meeting: 1.  We are coming out of this meeting with all guns blazing.  We will cut the interest... Read »

The End of History: Why the Fed Will Fail

Aug 22, 2011| 

In 1989 Francis Fukuyama made a bold prediction.  The world would become increasing democratic and market-oriented.  Other political models would gradually wither... Read »

The Sad End of Monetarism

Aug 13, 2011| 

Two years ago Allan Meltzer warned that the Fed’s policies would lead to high inflation.  Paul Krugman and I told him he was wrong.  In a new article in the... Read »

What Do We Know About Fed Announcements and Markets? Much More Than You’d Think

Aug 13, 2011| 

Justin Wolfers just sent me the following tweet from Alex Tabarrok: Hypothesis: In past 48 hours there is some time frame such that combination of short and long... Read »

Anatomy of a Confused Market

Aug 12, 2011| 

Cameron sent me this valuable data, which I will use to analyze the market reaction to Tuesday’s Fed announcement: The S&P : http://www.google.com/finance?q=INDEXSP%3A.INX&hl=en Zoom... Read »

Why the Fed’s Policy Won’t Lead to High Inflation

Aug 11, 2011| 

Stephen Williamson has an excellent observation about the Fed’s new commitment to hold rates near zero for 2 years: Further, it seems the outcome the Fed would... Read »

Message to the ECB: We Told You So

Aug 10, 2011| 

Quasi-monetarists and Keynesians both warned the ECB that it was making a mistake by raising interest rates in response to commodity inflation, even as NGDP expectations... Read »

What Are the Markets Telling Us About Fed Transparency?

Aug 10, 2011| 

When the Fed makes an important announcement at 2:15, one often sees the DJIA shoot up or down by a few hundred points, and then level off.  This time around... Read »

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