The Federal Reserve claims to know the “neutral” rate of interest, as though these things can be known administratively. Either interest rates are set by the market or done by fiat; it cannot be both simultaneously.
Keynesians claim that the source of economic growth is consumer spending. Austrians know that net savings are the key to a growing economy.
In the wake of bad news on inflation, the Federal Reserve is pushing up interest rates. However, a Fed-induced higher rate is not the same as an interest rate decided by the market.
Keynesians claim that the source of economic growth is consumer spending. Austrians know that net savings are the key to a growing economy.
Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.
While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.
Peter Lewin joins Bob to discuss his work on uniting Austrian capital theory with mainstream finance.
Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.
While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.
