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.
Rothbard's book is considered the standard on the subject of the 1819 crisis, yet the NY Fed authors seem reluctant to speak his name.
Even the Fed, which has for years been describing the economy as "expanding at a moderate pace," and which a few months back was saying it was "hawkish," has, through Janet Yellen's testimony today, been forced to admit that a rate cut may again be on the horizon.
