With the recent rate hike, the mainstream press obediently parrots the macroeconomic analysis offered by our friendly central planners at the Federal Reserve. The average citizen knows that he or she is not nearly smart enough to understand the complex interrelationships of various price indices, yield curves, consumer confidence, and so forth—that’s Greenspan’s job.
Gilligan's Island economics can provide useful thought experiments, writes B.K. Marcus, for the same reasons Robinson Crusoe economics has served as a staple of classical and Austrian School economics texts.
Just when the supposed threat of disinflation passed, now comes another frightful creation from the fearsome flation family: stagflation. Sean Corrigan explains.
Joseph Salerno writes about a long-term look at this conventional wisdom that shows that 90 percent of deflations since 1820 have not resulted in depression.
In a market economy, writes Robert Murphy, the interest rate is not merely a lever to stimulate or depress economic growth.
In recent years an increasing number of economists have understandably become disillusioned by the inflationary record of fiat currencies. They have therefore concluded that leaving the government and its central bank power to fine tune the money supply, but abjuring them to use that power wisely in accordance with various rules, is simply leaving the fox in charge of the proverbial henhouse.
Mark Thornton discusses the irrational fear of deflation at this Austrian Workshop seminar.
If the goal is to increase confidence in money, writes Clifford Thies, putting Reagan's face on it won't do it.
Presented as part of the Mises Institute’s Austrian Workshop seminar series on 22 June 2004 in Auburn, Alabama.
The common wisdom used to be that a person shouldn't go into debt. This view was based upon centuries of experience. Bad things can happen, thus money should be saved just in case, not borrowed. But, now people follow the government's lead, the government will never get out of debt and neither will the people.
