How TheMoneyIllusion got it’s name

This is really good – a short explanation of NGDP Level Targeting and some prominent “money illusions”:

(…) If we talk about targeting 1/NGDP, then it will become clearer that all I want the Fed to do is stabilize the value of money. Since they have a monopoly on the production of base money, is it really that unreasonable (even from a libertarian perspective) to ask them to at least try to stabilize the value of cash in terms of the share of NGDP that can be bought with each dollar. (…)