Clueless ‘MarketWatch’ Columnist Disses Austrian Economics
Robert Wenzel shows top to bottom, Delamaide is clueless on facts and theory about deficits, business cycle theory and basic economics. Here is an example of Delamaide’s “analysis.”
WSJ Marketwatch’s Darrell Delamaide worries about the Misesian takeover:
At the annual meeting of the American Economic Association in San Diego (January 4–6, 2013), Harvard professor of economics Benjamin Friedman said,
The standard models we teach … simply have no room in them for what most of the world’s central banks have done in response to the crisis.
Friedman also advises sweeping aside the importance of the role of monetary aggregates. On this he said,
If the model you are teaching has an “M” in it, it is a waste of students’ time. Delete it.
To say that we need a politically created monopoly to create money is to in principle abandon the whole case for the free market and concede the value of central planning.
Gold Switzerland interviews Robert Blumen. It include an interesting discussion on China, socialist calculation, as well as the gold market.
[Part 2 of “Judaism and Capitalism: Friends or Enemies?” The Lou Church Memorial Lecture in Religion and Economics, presented at the 2012 Austrian Scholars Conference (Click here for part 1)]
Part 1 of “Judaism and Capitalism: Friends or Enemies?” The Lou Church Memorial Lecture in Religion and Economics, presented at the 2012 Austrian Scholars Conference
The topic of deflation has risen to new heights in Japan because the new Prime Minister has promised to fight deflation and to set new minimum inflation targets for the Bank of Japan.
In this article Frank Shostak shows why Japan should not try to fight inflation. Instead they should fight their apoplithorsismosphobia.
