It´s not a date but the number of posts I have written since late August 2010 when I began on this journey. I take this occasion to first of all thank my readers for helping me to ‘keep walking writing’. The reader is the writers’ fodder. Without him it would be ‘just words blowing in the wind’. And the feed-back is immediate. I get to know, instantaneously, how many individuals patronized me, where they came from and which posts they read. It´s warming to see readers spread out over all the continents. You even get to think you are making a difference.
And there are the bonds and friendships made. I remember goggle-chatting with Lars Christensen in August 2011 while he was on vacation (was it Mallorca?). That´s shortly before he started blogging. It was a ‘defining moment’ because that´s when I asked him to do a guest-post in which the Market Monetarist name was introduced (substituting the provisory ‘Quasi Monetarist’) having, since then, become (almost) a household word. The title of Lars´ post was Market Monetarism – The Second Monetarist Counter revolution. It takes on a new significance after the conclusion to this post by Krugman, even if you discount the hyperbole:
The key point here is that to concede the obvious about nominal wages is, like it or not, to concede that Lucas, Prescott, and so on were just a great detour away from useful macroeconomics.
There´s a special place reserved for Scott Sumner who started the movement in February 2009 when he began blogging. One of his very first posts “C+I+G+NX=Grossly Deceptive Partitioning” almost instantly turned me into an ‘NGDP Level Targeter’. Soon after I became a ‘frequent commenter’ followed up by private e-mail exchanges with Scott. In one of those I sent him the now ‘famous’ Bernanke 1999 paper on “Japanese Monetary Policy – a case of self-induced paralysis”, which he posted on and was quickly picked up and referred to not only by bloggers but also the media.
I found out that writing is addictive. Something´s ‘missing’ if you spend even a little time away from the keyboard. To fill the ‘empty spaces’ I decided to write a book which goes over the economic history of the US over the last 60 years from a market monetarist perspective. But, differently from blogging, writing a book is a lonely endeavor, so I was glad that Benjamin Cole quickly accepted to share the burden. Separated by thousands of miles and a 10 hour time difference, during much of the time it felt like we were sitting and talking side by side.
To all my readers, commenters and fellow MM bloggers, a big thanks. The last three years have probably been the most nourishing in my life.