The following extract neatly sums up why monetarists and Keynesians are both wrong in their prescriptions about the need to use easy money and Big Government to boost “effective” demand. From The National Federation of Independent Business April Survey: “The economy is splitting with the services sector improving and the goods sector suffering,”
Corrigan heads Capital Insight , a financial consultancy. He was interviewed at the Mises Institute prior to his lecture on the “What Happened to Recovery?” MISES.ORG : It seems like the Austrian story of the boom is getting out there. CORRIGAN : My sense is that many Austrians have described the process of the boom very well. The literature deals
Forget Greenspan’s timorous optimism about the economy—after all, ask yourself when, in the course of the whole dirty dozen of futile rate cuts, he last talked its prospects down ? No. Just like the tired old stock promoter he is, Bookie Al always thinks better days are ‘round the corner, so puh-leeze, People, let’s perform our own analysis
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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.