Over at LRC, Michael Rozeff has a surprising analysis where he lays out a few convincing arguments that gold prices are too high right now, relative to other prices. He concludes that gold is “overvalued” and that its downward trend may very well continue. I won’t quibble with his numerical arguments, but I think they are at best irrelevant.
Con día tras día de noticias sombrías con respecto a la crisis crediticia - y en particular, los artículos que constantemente nos recuerdan que las recientes acciones de la Reserva Federal no se han intentado desde la Gran Depresión —el americano medio está comprensiblemente perplejo. Y aunque lo que estoy a punto de admitir no sorprenda a muchos
Quien examine las principales revistas económicas ortodoxas se dará cuenta inmediatamente de que la teoría económica se ha llenado de formalismo matemático. La inflexible búsqueda de los economistas neoclásicos de la precisión en sus modelos se ha alcanzado a costa de la precisión en sus predicciones. El viejo chiste del borracho buscando sus
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.