In The Quarterly Journal of Austrian Economics, Levi Russell and Michael Langemeier examine Kansas agriculture as a case study illustrating Austrian Business Cycle Theory:
Mises Daily Thursday by Peter St. Onge:
What if machines took most of our jobs? Things would become less expensive, and humans would become wealthier in real terms, just as has happened since the Industrial Revolution began. Fear of labor-saving technology continues unabated, nonetheless.
The job-threatening rise of the machines is an economically illiterate meme that refuses to die. We’re actually probably in the early stages of it, a bull-market in neo-luddism, if you will. Bastiat’s “Candlemakers Petititon” answered this one long ago, but today I’ll run a little thought experiment that owes it all to good old Bastiat.
From Edward Fuller in the Spring 2015 issue of The Quarterly Journal of Austrian Economics:
Mises Daily Wednesday by Andrew Syrios:
Believing his record on economic predictions to be impeccable, Paul Krugman has declared himself “Krugtron the Invincible.” Unfortunately for him, a closer look at this record leaves quite a bit to be desired when it comes to accurately predicting the future
Noah Smith joins sides with Paul Romer who recently condemned the overuse of mathematical modeling in economics. (I wrote about it here.) Smith isn’t exactly known for his love of Austrian methods, so that should be your tip off that criticizing “mathiness” isn’t necessarily support for the logical, a priori approach.
As I read The Executive Unbound, I found myself in a world turned upside down. I take the following to be not only true, but obviously true: Today and in the recent past, all-but-uncheckable presidents have involved us in unneeded wars, invaded our liberties, and subjected us to economic controls that bear an uncomfortable resemblance to fascism.
Mises Daily Tuesday by Christopher Westley:
It appears that even economists are now being replaced by machines. At least it seems that way given a recent paint-by-numbers attack from the New York Times on James Grant’s new book The Forgotten Depression.
Acknowledgments
While the problem of 1929 has long been of interest to myself as well as most Americans, my attention was first specifically drawn to a study of the Great Depression when Mr. Leonard E. Read, President of the Foundation for Economic Education, asked me, some years ago, to prepare a brief paper on the subject. I am very grateful to Mr. Read for being, in this way, the sparkplug for the present book. Having written the article, I allowed the subject to remain dormant for several years, amid the press of other work. At that point, on the warm encouragement of Mr. Richard C.
