Business Cycles

Paul Krugman defends the cartoon version of Keynesianism that we are told is oversimplified.

A central bank confers no benefit on society at large. 

There's plenty of blame for the financial crisis being spread around. Those on the left say Wall Street wasn't regulated enough, while those on the right claim government mandates required lenders to make bad loans.

I recently finished reading a book on the South Sea Bubble. I was surprised at how fascinating it was.

To ascertain what inflation is all about, we have to establish its definition.

The historical evidence in Britain supports the view that spending cuts bring about larger economic recoveries than deficit spending does.

The fall in the money stock that precedes price deflation is actually triggered by the previous loose monetary policies of the central bank.

An artificially stimulated boom must inevitably lead to crisis and depression.

Anything invested in creation of goods that no one wants ("bads," really) is wasted.