Business Cycles

The committee to select the winners of the Nobel prize in economics almost always prefer interventionists to laissez-faire economists. The first year was no exception.

The Yen remains strong for a variety of reasons. Restrained monetary policy in Japan isn't one of them.

Thanks to the great Tatsuya Iwakura, who has translated numerous books by Austrian economists into Japanese, The Austrian Theory of the Trade Cycle and Other Essays, edited by Richard Ebeling, is now available as a Kindle book in Japanese.

Recessions are good for an economy because they involve a resolution process, but a big recession for this boom town could be great for the world economy.

Simple Janet should have the decency to resign.

The paper aims to defend the general validity of the ABCT against the assumption that the theory does not hold if entrepreneurs are able to anticipate correctly the inflationary effects of a fiduciary credit expansion.

Job growth in the United States is weaker than one might believe based on the "we've created millions of jobs" mantra.

The world's largest container ship just entered a US port. Just in time for record low levels in the Baltic Dry Shipping Index, which is a measure of how much ships can charge.

This little known chart is the Fed's attempt to anticipate a recession in the US economy. The reading from last November is only 3.84%, but that is higher than all but 3 months when a recession did not immediately proceed.

I have lived in Auburn, Alabama, for more than three decades and have never seen a Super Sized Construction Crane. Last week, two were erected in the middle of town.