Monetary Theory
Röpke Stood Against the Tide
Unfortunately, welfarist ideas are still careening down the highway with as much dangerous momentum as was the case when Röpke was still alive.
The Forgotten Depression of 1920
Popular rhetoric notwithstanding, government cannot be run like a business.
Rothbard on Panic Then and Now
The observers today most reminiscent of our forefathers are the armies of tea partiers and bloggers, incensed that Main Street has gotten the shaft, first from the evils of hyperextended credit, and doubly now that modern solutions may prolong the madness.
The Specific Value of Money
The task of the theory of money consists merely in dealing with that component in the valuation of money which is conditioned by its function as a
A Pro-Free-Market Program for Economic Recovery
Finally, the freedom of wage rates and prices to fall must be established through the repeal of pro-union and minimum-wage legislation, and more fundamentally, the education of the public concerning the errors of the Marxian exploitation theory and their replacement with actual knowledge of what determines wages and the general standard of living.
Economists Can Be Hilarious
The efficient-markets hypothesis is actually a tautology, or a way of viewing the world.
Keynes, the Man
But ignorance cannot account for Keynes's claim that he was the first economist to try to explain unemployment or to transcend the assumption that money is a mere veil exerting no important influence on the business cycle or the economy.
A Free-Market Operative in the Bowels of Bureaucracy
Eventually, every aspect of productive life will be so controlled that capitalist drive and ingenuity will become relics of the past.
Should We Believe the GDP?
Unfortunately, central bankers and central planners believe these statistics have relevance, justifying their interference with businesses and making us all poorer in the process — no matter what the numbers are.