Mises Search

  The strangest thing about the ongoing financial crisis is that US Fed Chairman Ben Bernanke has so far come out of it relatively unscathed. Except for the narrowing of some credit spreads over the last few months, economic indicators have not sustainably improved since Bernanke initially moved to address the crisis. In fact, matters have grown

[ Editor’s Note: L. Albert Hahn was a German banker and investor who made his name in the mid-20th century as a critic of Keynesian economics. Grounded on an Austrian understanding of the business cycle and uncertainty, Hahn depicts the stock market as being overwhelmingly inhabited by investors whose thinking is constrained by mass opinion. In

For as long as every living economist has been plying their trade, a single historical episode has been taken as an experimentum crucis . Latin for “crucial experiment”, it is what Isaac Newton used to call an observed outcome significant enough, by itself, of determining the validity of a theory. The event serving this function in present-day

      In the ninety-six years since its founding, the U.S. Federal Reserve (Fed) has never been so daring, aggressive, or ground-breaking in its policymaking as it has in response to the current financial crisis brought upon by the collapse of the U.S. housing market. The Fed has slashed the interest rates under its control to practically zero,

Volume 15, Number 1 (Spring 2012) ABSTRACT: The Efficient Markets Hypothesis (EMH) was dealt a fatal blow by the financial crisis of 2007-2009, out of which we have witnessed a revival of Keynesian conceptions of the financial markets. Exemplifying this trend is the rising influence of behavioral finance. But if EMH exaggerates the rational side

Volume 17, No. 4 (Winter 2014) Eswar S. Prasad Princeton: Princeton University Press, 2014, 432 pages The great mystery of international finance is how the U.S. dollar has managed to retain its dominance. This is a currency, after all, that has lost about 83 percent of its purchasing power since President Richard Nixon cut the dollar’s remaining