Mises Daily Articles

Paul Krugman is despairing of late, because a growing number of mainstream economists are adopting (versions of) Austrian business-cycle theory. The most recent convert is Minneapolis Fed president Narayana Kocherlakota.

Some people are saying that all we need is optimism, as if our attitudes alone cause and fix the business cycle, and as if the real world doesn't matter at all. Actually, the "bad attitudes" of consumers and producers are the real fix: they lead to deleveraging and saving.

"The Randist analysis of the nature of crime implies the necessity for a minimal government."

It is very difficult to convince someone that if they refuse free money they will be better off.