Elizabeth Warren on the Economic Consequences of the Obama Administration
Elizabeth Warren, recently appointed to a Democratic leadership position in the Senate, explained her priorities: “Wall Street ... is doing very well, CEOs are bringing in millions more and families all across the country are struggling,” she said. “We have to make this government work for the American people. And that’s what I will fight for.”
The New Mises.org Is Here!
Mises Daily Tuesday by Jeff Deist:
The new mises.org is not just a renovation of the old site, but rather a wholly new platform that will serve as the foundation from which we can adopt new innovations in web design, social media, mobile technology, and more.
The Keynesian Multiplier Concept Ignores Crucial Opportunity Costs
Volume 17, No. 3 (Fall 2014)
ABSTRACT: The Keynesian multiplier is a concept embedded in macroeconomic thought, policy, textbooks, and widely taught in classrooms. Apparently the only controversy is its empirical size. Is the multiplier a large positive or near zero or perhaps even negative? Most empirical studies have found an impact multiplier that is positive but near zero and a long run multiplier that is larger. From an Austrian perspective, there are several problems with the multiplier concept and the research on it.
Central Banks Are Not Innocent Bystanders
Mises Daily Monday by Peter St. Onge:
The Economist recently opined that interest rates don’t affect investment. This claim is based on an empirical study that contradicts what we already know: that lower prices lead to more demand. In the end, the problem lies with the researches who fail to account for the behavior of central bankers.
