Perry G. Mehrling


Perry G. Mehrling, Professor of Economics, joined the faculty of Barnard College in 1987, where he teaches courses on the economics of money and banking, the history of money and finance, and the financial dimensions of the U.S. retirement, health, and education systems. His most recent book is The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011). His best-known book Fischer Black and the Revolutionary Idea of Finance (Wiley 2005, 2012) has recently been released in a revised paperback edition. Currently, Prof. Mehrling directs the educational initiatives of the Institute for New Economic Thinking, one of which is his course Economics of Money and Banking, available on Coursera at

By this expert

Maynard's Revenge: A Review

Article | May 21, 2012

Below is a revised version of a talk I gave at the New School University, at a conference to launch Lance Taylor’s latest book. The date of the event was April 28, 2011, more than a year ago, and the delay in revision was entirely my fault—overcommitment and pressing deadlines on many fronts. Sorry about that.

Insights from Bagehot, for these Trying Times

Article | May 11, 2012

Here is a talk I gave recently at Wake Forest University.

The Clash of Economic Ideas: A Review

Article | Apr 25, 2012

When Paul Krugman paints John Maynard Keynes as a pioneering critic of dominant free-market economics, he exaggerates wildly, both about the rigidity of orthodoxy and about the pioneering character of Keynes’ critique.

Mehrling on Soros

Article | Apr 16, 2012

The text below is the comment I offered on Mr. Soros’ opening speech at INET’s Berlin Conference April 12, 2012. The text of Mr. Soros’ own speech is here. Video of the entire session is below—my bit starts at 55:00.

Featuring this expert

Facts and Values Are Entangled: Deal with It

Video | Jan 9, 2012

Are there more poor people on our planet today than there were last year? Many economists would approach this question as mainly a technical problem, a matter of counting.

Bottom Up Fiscal Policy: Direct Employment of the Unemployed

Video | Dec 11, 2011

To cure unemployment, mostly we prime the pump: we devise fiscal strategies on the presumption that jobs follow economic growth. But the strategies have not worked, unemployment remains high.

Why Economics Needs Data Mining

Video | Nov 17, 2011

Cosma Shalizi urges economists to stop doing what they are doing: Fitting large complex models to a small set of highly correlated time series data.

Macroeconomics From the Bottom Up

Video | Aug 30, 2011

In 2006, the Fed asked its macroeconometric model what would happen if house prices dropped by 20%. The model projected the past into the future and said: “Not much.” Well, the financial crisis proved it wrong.