Booming home prices and record low interest rates are allowing homeowners to refinance their mortgages, "extract equity" to increase their spending, and lower their monthly payment! As one loan officer explained to me: "It’s almost too good to be true."
In a market economy, writes Robert Murphy, the interest rate is not merely a lever to stimulate or depress economic growth.
The Fed's recent decisions, writes Frank Shostak, are part of a new effort to conduct monetary policy in the absence of "shocks."
Presented as part of the Mises Institute’s Austrian Workshop seminar series on 22 June 2004 in Auburn, Alabama.
Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.
In a brilliant lecture at the Austrian Scholars Conference, Sean Corrigan chronicles the failings of growth-driven government policies that impoverish in the long run.
Christopher Mayer explains why an Austrian analysis starts by examining the preceding boom phase of the business cycle.
Sean Corrigan presents The Henry Hazlitt Memorial Lecture at the 2004 Austrian Scholars Conference.
Includes Question and Answer period.
