Cyclical Changes in Business Conditions
An artificially stimulated boom must inevitably lead to crisis and depression.
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.
The world financial crisis and recession have provided Austrian economists with a golden opportunity.
Say's law not only points to the fallacy of the accelerator but to its corollary, "derived demand."
They keep trying and trying with ever-worse results. There is no middle way to solve the housing crisis. The real help for underwater homeowners will only arrive when Fannie, Freddie, and the rest are allowed to fail.
From Man, Economy, and State, narrated by Jeff Riggenbach.
The erratic volatility of gold and other commodities is the direct result of further intervention into the market through central banking.
The economy remains moribund, but not because consumption spending has failed to recover.
Bernanke figures he's done the stimulating; consumers need to put on a happy face and start spending.
This is your opportunity to meet Robert Higgs, hear a live lecture, and ask your own question of this remarkable thinker.