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

Farley Grubb

Econ Journal Watch, 2021, vol. 18, issue 1, 79–94

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.

Keywords: United States history; British colonies; currency; redemption theory; monetary history (search for similar items in EconPapers)
JEL-codes: E59 N11 N21 N41 (search for similar items in EconPapers)
Date: 2021
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