Scott Sumner discusses  George Selgin’s outstanding recent paper “L Street: Bagehotian Prescriptions for a 21st-Century Money Market.” 
Speaking of fine papers, here’s the latest from my GMU Econ colleague Dick Wagner (and co-author Marta Podemska Mikluch); it’s entitled “Dyads, Triads, and the Theory of Exchange: Between Liberty and Coercion.” 
Here’s Timothy Taylor on Daniel Sichel on the history of the price of nails . (HT Mark Perry)
Finally, Ronald Coase  published his first seminal article (“The Nature of the Firm”) in 1937 (the year before my mother was born). Yesterday, in the Wall Street Journal, Coase published this new essay (co-authored with Ning Wang) ; it’s on recent Chinese history and on China’s likely future economic prospects. As is true of every word that I’ve read by the 101 year old Coase – and I’ve read, probably, about 75 percent of his published works – this essay is wise and clear.