Robert Waldmann on Weimar Economics

Hoisted from Comments: RJW http://delong.typepad.com/sdj/2010/08/stephen-williamson-commits-himself-to-cargo-cult-macroeconomics.html?cid=6a00e551f0800388340134867e98ec970c#comment-6a00e551f0800388340134867e98ec970c writes:

I'm not a fan of new monetary economics, but it isn't isomorphic to cargo cults. In new monetary models there are typically two steady state equilibria one in which money is valuable and one in which it is worthless. I am not really expert so I wrote "typically" to...