The laws of physics can never be absolutely established. For some other law may prove more elegant or capable of explaining a wider range of facts. Hypotheses must be constantly tested. Economics is not like this.
The Economic Crash that Cured Itself: A Conversation with James Grant about the Depression of 1921.
Despite little liberalization, global trade grew rapidly over the last decades only to collapse in 2009. Was this growth healthy, though?
Fed management of the economy and the business cycle has only gotten much worse as it has grown more powerful and destructive. As the Federal Reserve has become more powerful, job losses have generally more severe and the duration of the recovery process has gotten progressively longer.
The most recent job report appears, on the surface, encouraging news for the U. S. economy.
Keynesian economics produces a dead end economy.
Richard Ebeling writes: "On Thursday, November 13th, I was interviewed on the "Boom-Bust" segment on RT television on Ludwig von Mises and the Austrian Theory of the Business Cycle."
The Economist recently opined that interest rates don’t affect investment.
