Scholarly Comments on Academic Economics

Colonial New Jersey’s Paper Money: A Reply to Michener Again, and Again, and Again

by

Read this article

Access statistics
415 article downloads
1,407 complete issue downloads
Total: 1,822

Abstract

In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research. As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my model of monetary performance; that Michener does not understand how colonial New Jersey redeemed its paper money; and that Michener does not know how to evaluate quotation evidence.