Other Schools of Thought

Displaying 31 - 40 of 1999

Keynes and the Euthanasia of the Rentier

Financial MarketsCapital and Interest TheoryOther Schools of Thought

Blog04/04/2020

Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.

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Even When They're Wrong, We Can Learn From Understanding Others' Theories

Other Schools of ThoughtPhilosophy and Methodology

Blog03/20/2020

Learning the history of economic thought is important not because every economist has been right, but because we can learn from their mistakes.

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No, Technology Shocks Aren't Behind Recurring Business Cycles

Business CyclesInterventionismOther Schools of Thought

Blog03/19/2020

Finn Kydland and Edward C. Prescott (KP), the 2004 Nobel laureates in economics think that technological shocks can explain 70 percent of economic fluctuations in postwar US data. Unfortunately their quantitative methods are simplistic and ignore the real problem: central banking.

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The "Market Monetarists" and NGDP Targeting

Financial MarketsMonetary PolicyOther Schools of Thought

Blog03/10/2020

A relatively new challenge to the Austrian framework comes from the “market monetarists” and their endorsement of a central bank policy of “level targeting” of nominal gross domestic product.

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Why Deflation Can Be a Good Thing

Booms and BustsInflationMonetary TheoryOther Schools of Thought

Blog03/06/2020

Brazilian journalist André de Godoy interviews economist and Mises Institute scholar Antony Mueller on the nature of money, banking, and prices.

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How Keynesian Ideas Weaken Economic Fundamentals

Other Schools of ThoughtProduction TheoryValue and Exchange

Blog02/03/2020

There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.

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The Bank of England's Governor Fears a Liquidity Trap

Money and BanksCapital and Interest TheoryMoney and BankingOther Schools of Thought

Blog01/17/2020

The demand for goods is not constrained by the amount of money, but by the production of goods and services available to trade for money.

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Why Paternalists Keep Calling Us "Irrational"

Calculation and KnowledgeOther Schools of ThoughtPraxeology

Blog01/03/2020

Central planners like Cass Sunstein think our alleged "irrationality" means we need the government to intervene in our daily lives.

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Three Arguments Debunking Marx’s Labor Theory of Value

Labor and WagesSocialismOther Schools of Thought

Blog12/21/2019

As dismissive as many of us would like to be toward Marx’s thoroughly debunked labor theory of value, it still holds currency among today’s budding socialists.

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Hazlitt's Critique of Keynes: The 60th Anniversary

Book ReviewsInterventionismOther Schools of Thought

Blog12/20/2019

Hazlitt and all of the other critics of Keynes never did get to the primary points with respect to what was wrong with Keynes. One point was theoretical. The other was practical.

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