Chair of Monetary Policy
Contributor's Links: The Money Illusion

Scott Sumner is the Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University.  He is also Professor Emeritus at Bentley University and Research Fellow at the Independent Institute. In his writing and research, Sumner specializes in monetary policy, the ... more

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The Importance Of Expectations
Just as expectations of high post-pandemic house prices create high house prices today, expansionary monetary policy that boosts expected future NGDP can boost NGDP right now.
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Stop Obsessing Over Interest Rates
In recent years, Keynesians and NeoFisherians have debated whether a low-interest-rate policy is inflationary or disinflationary.
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MMT Blog
Lots of economists now advocate expansionary fiscal policy in the current environment of very low interest rates and high unemployment. Modern Monetary Theory (MMT) is more than fiscal stimulus; it is a model of the macroeconomy.
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Never Reason From A Quantity Change
When expected inflation falls to extremely low levels, the opportunity cost of holding base money declines and the demand for base money rises sharply.
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The Thing Party Vs. The Idea Party
In 1960, San Mateo County voted for Nixon over Kennedy. On Tuesday, this highly affluent suburban county near Silicon Valley voted 4 to 1 for Biden.
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Morning In America?
Today, the unemployment rate is 6.9%. In the Great Recession, it took more than 4 years for unemployment to fall from a peak of 10% to 6.9%. This time it took 6 months (from over 14%).
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Latest Posts
Trump Didn’t Want An Investigation, He Wanted An “investigation”
I’m rather discouraged by the fact that so many people seem to accept at face value that Trump wanted the Ukraine to investigate Biden.
The Sad Decline Of American Democracy
Yes, lots of horrible things are also occurring in China, but Americans really do need to look in the mirror.

Work Experience

Ralph G. Hawtrey Chair of Monetary Policy
Mercatus Center at George Mason University​
2015 - Present (6 years)
Professor of Economics
Bentley University
1982 - 2015 (34 years 4 months)

Education

Wisconsin University
BA
Economics
Chicago University
PhD

Publications