This comes from reader Alex Entz:
I wrote a Shakespearean sonnet in iambic pentameter about economics for an English class of mine at Northwestern this past quarter and, spurred on by the rash of “Fed Valentines,” thought I’d take a decidedly Austrian approach. Now that the class is done, I figured that I should pass it along to some people who, unlike my English professor, would perhaps appreciate its economic aspects more than its rhythmic and metrical aspects.
Dream On, Valiant Austrian!
I fell asleep quite late last night, adrift
In books of Hayek’s thoughts. And dreaming was
An oddity—dollars and gold, a swift
Exchange; velocity ran flat because
It stayed constant, our friend. Inflation sat
A toothless beast by Milton’s sage theory;
There was no need for Twist, or worse, a fat
Sad QE3—of which I was leery.
There were no bubbles to be popped, no price
Distortions there, and property was ruled
By Coase—so simple and so fair. A piece
By JM Keynes no longer had us fooled.
I woke to a report about the Fed;
Sometimes the world runs better in my head.