Author Archives: wcoats

About wcoats

Dr. Warren L. Coats specializes in advising central banks on monetary policy, and in the development of their capacity to formulate and implement monetary policy. He is retired from the International Monetary Fund, where, as Assistant Director of the Monetary and Financial Systems Department, he led missions to over twenty countries. Before then, he served as Visiting Economist to the Board of Governors of the Federal Reserve System, and to the World Bank, and was Assistant Prof of Economics at the Univ. of Virginia from 1970-75. Most recently he was Senior Monetary Policy Advisor to the Central Bank of Iraq; an IMF consultant to the central banks of Afghanistan, Kenya and Zimbabwe; and a Deloitte/USAID advisor to the Government of South Sudan. He is currently a member of the Editorial Board of the Cayman Financial Review and until the end of 2013 was a member of the IMF program team for Afghanistan. His most recent book is entitled "One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina."

Sound Money

Philadelphia Society Address on Oct 14, 2017 Introduction Sound money is a necessary but not a sufficient condition for a healthy economy. How can we best achieve and maintain it? For almost two hundred years the gold standard did a good … Continue reading

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Abuses of Government regulation

Government is essential for a vibrant, growing economy. It provides and enforces the property rights and rules of the game (e.g., contract enforcement) within which entrepreneurs operate. It is, or should be, the referee of the game rather than a … Continue reading

Posted in Economics, News and politics, trade | Tagged , , , , , , , | 2 Comments

Taxing the Wealthy

The administration has “backed a tax plan that analysts say would greatly benefit the wealthy.” I want to unpack that and take a closer look at what it might mean. “The Trump tax plan drops the top bracket from 39.6 to … Continue reading

Posted in Economics, taxes | Tagged , | 5 Comments

Trump’s Real Job

President Trump should give up his childish feud with the NFL and attend to his real job. His frequent attacks on the press, the intelligence community, so called rapists from south of the border, among many other things, in addition … Continue reading

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A Basic Human Right

Hunter-gatherers freely traded what they produced (gathered) for what they needed but did not produce. The story is well known (except by Peter Navarro, an energy and environmental policy analyst masquerading as Trump’s trade expert). By specializing in what they … Continue reading

Posted in Economics, trade | Tagged , , , , | 2 Comments

Do we really need Free Speech?

James Damore was fired by Google for a memo he posted at work giving his views on why there are so few women at his workplace. Basically, he argued, fewer women are interested in math and science than men and … Continue reading

Posted in Discrimination, Uncategorized | Tagged , , , , , , , , | 3 Comments

Science, Discrimination, and Larry Summers

It is clear that Harvard President Larry Summers has hit a nerve, yet again. It is far less clear why reactions have been so strong and often so disappointing to those of us who believe in science. Let us know … Continue reading

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