The Review of Austrian Economics, Volume 1, Number 1 (1987)

Continental record high skyscrapers have occurred in Europe and more recently in China and North America. Such regional or continental records indicate looming economic crisis as did happen in Europe and seems to be unfolding in China and North America. More recently we have learned that world record setting skyscrapers are planned for China and Saudi Arabia. World record setting skyscrapers are a indication of a looming world economic crisis.

Michael Oliver, the man who coined the term Anarcho-capitalism is interviewed on Jeff Berwick’s Anarchast. Oliver is now a market technician, but over 40 years ago he wrote a book: The New Libertarianism: Anarcho-Capitalism. In the book he shows that Ayn Rand’s objectivism needs the economics and political theory of Murray Rothbard.

Foreign individuals and businesses long ago cut back on their purchases of U.S. bonds. Their place was taken by foreign central banks. The central banks simply created money in their own currency and used it to buy our bonds.

The Federal Reserve always knew that we couldn’t rely on foreign central banks to buy our bonds forever. This may be the main reason it began the program called quantitative easing, in which the Fed created money out of thin air specifically to buy back U.S. debt.

The internet is filled with talk of the fourth season of HBO’s Game of Thrones. This is welcome news, as Game of Thrones probably offers economists more teachable moments than any show currently on the air (even House of Cards). Fans are probably familiar with its economic themes and strongly critical view of government, which have attracted the attention of many libertarians, including yours truly.

Who enriches himself while talking a Keynesian game?  Jeff Deist offers a hypothesis here.

As a follow-up to Thursday’s popular article on economists and economic models, here’s Frank Hollenbeck discussing economic models in more detail:

Per Bylund’s column “What Sweden Can Teach Us About ObamaCare“ is in today’s WSJ:

Members of an Austrian School of economics forum to which I belong have been discussing the source of economic progress. It began with the usual elements of capital, technological development, and managerial expertise before getting more philosophical when a member suggested the acceptance of rationality in all things. I felt this was not a proper answer, because the definition of “rationality” is itself debatable and can be used by political authorities to suppress unpopular ideas.