Peter Lewin here undertakes a difficult task and carries off his mission with notable success. He studied with the late Ludwig Lachmann, by whose thought he has been greatly influenced.
He has succeeded in misleading almost everyone into accepting a bizarre and idiosyncratic view of the business cycle, writes Joseph Salerno.
Why do economists disagree on how to handle downturns? Chris Westley explains that some believe the market works and others do not.
The Austrian concept of capital envisions not a great blob, but complex orders of goods interlocked in complementary structures, writes Gene Callahan.
Are economic downturns caused by falling demand? No, this is only a symptom of a structural problem, says Frank Shostak.
Medical Savings Accounts promised market incentives in health insurance. Congress didn't renew them, but Dale Steinreich argues they weren't so great anyway.
If the economy is slowing, argue some economists, the Fed should lower rates and flood the market with credit. Gene Callahan disagrees.
As usual, the rich are taking a beating this election season. But Lew Rockwell argues that they are the foundation of prosperity and a most precious asset.
Releasing the government's stored oil may have political effects, which has always been the point, says Thomas DiLorenzo.
Are American workers becoming more productive? The data used to measure productivity are unreliable.
