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James A. Dorn
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Join date: Mar 17, 2025
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A China specialist at the Cato Institute, James Dorn writes on international trade and human rights, economic reform, and the future of money. His articles have appeared in The Wall Street Journal, Financial Times and South China Morning Post.
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Mar 15, 2021 ∙ 4 min
Congress Should Not Expect a Miracle from Monetary Stimulus
Monetary policy can only do so much: it cannot permanently increase the wealth of a nation. That is the lesson from economic history. In the short run, the Fed can affect real variables like output and employment by expansionary monetary policy, but trying to use monetary stimulus as the primary vehicle to move the economy
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Feb 6, 2016 ∙ 6 min
The Importance of Sound Money and Banking: Lessons from China 1905–1950
The history of China’s banking system in the first half of the 20th century offers powerful insights into the conduct of monetary policy and the consequences of government intrusion into banking and monetary institutions that are well worth considering today. Monetary economists and monetary historians would do well to study China’s example.
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Oct 17, 2015 ∙ 4 min
Pitfalls of the Federal Reserve’s Zero Interest Rate Policy
The Federal Reserve has kept its target range for the federal funds rate at 0 to 0.25 percent since December 2008. This is often referred to as the Fed’s “zero interest rate policy,” or ZIRP. The purpose of near-zero overnight rates — and forward guidance to convince markets that those rates will be maintained...
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