Capital and Interest Theory

If the current level of output and employment is made to depend on inflation, a slowing down in the pace of inflation will produce recessionary sym

The German hyperinflation was the result of a policy that considered the financing of government debt by an accelerating increase in the money stoc

Since the heart of credit is real savings, it is obvious that no government schemes, such as cleansing banks' balance sheets, can increase fully backed credit.

Jeffrey Tucker interviews Michele Boldrin, co-author (with David K. Levine) of the book Against Intellectual Monopoly.

Paul Samuelson is the one who laid the theoretical foundation for this systemic anarchy. Milton Friedman then provided the emperor's new clothes, dressing it in the garb of neoliberalism. That is how these two leading figures in American economic thought were united in unleashing on the world community the system that has now collapsed.

Brad DeLong and Paul Krugman continue to mock the Austrian explanation for the business cycle, but their ridicule is based on their own deficient model of the economy's capital structure.

By flooding the credit markets with money created out of thin air, the central banks of the world are interfering with humans' attempts to communicate with each other after the housing bubble popped.

I am tired of hearing economists argue that government and the Fed should expand credit for the good of the economy.

What permits real economic growth is an improvement in the investment infrastructure of the production process. What makes the improvement possible is real savings.

Sponsored by the Mises Institute and held in Houston, Texas; September 22-23, 1995.