Mises Romania Interviews Jörg Guido Hülsmann
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RIP James M. Buchanan
The co-founder of the Public Choice School has died at the age of 93. Buchanan was awarded the Nobel Prize in economics for applying economic tools to the study of government. Buchanan was interviewed by the Austrian Economics Newsletter shortly after winning the Nobel Prize.
IP LIMBO - Roldan’s Caricature of Hayek and Keynes
One of my favorite caricatures of Hayek and Keynes was used on the cover The Hayek-Keynes Debate: Lessons for Current Business Cycle Research (1999). If my memory is correct, Fred Glahe (co-author) discovered the drawing in an issue of The Economist somewhere in the mid to late 1990s. We tracked down the artist and received permission to use the drawing on the cover to which we owe a grateful debt to the now deceased creator Ismael Roldan.
Where Is the Inflation?
Only Austrians can explain why massive central bank money printing hasn’t
resulted in higher prices.
The Stateless Equilibrium
The stateless market society—a peaceful social arrangement based on voluntary relations among individuals in which the state is not present—is not a popular idea. Many people believe that this society would lack the capacity to define and enforce property rights, and that this would result in chaos, tyranny of the rich or in a reversal to a state. This belief has led to a widespread dismissal of the stateless society paradigm.
Fighting for Oil?
You don’t need to be a “conspiracy theorist” to see what’s going on here. All you have to do is be willing to use your eyes.
The Santa Claus Principle in Action
Unions, Thugs and Storm Troopers and the “Right to Work”
For a great follow-up to George Reisman’s recent commentary on unionism, “Labor Unions, Thugs and Strom Troopers” see Walter Block’s recent piece on right to work laws at http://www.LewRockwell.com where he provides a libertarian analysis to right to work laws as an antidote to improper uses of coercion and force by union forces.
Market Forces and Recovery
Doug French provides some great commentary on housing market in “Markets Stagnate Until They Clear.”
I don’t know why so many economists and pundits look to return of boom prices and volume as sign of “recovery” in the housing market and necessary for recovery of the economy. What part of an artificial boom accompanied by malinvestment is not understood? Highlight is from the opening paragraph.
Opening paragraph:
Cycles and Relative Prices
The Austrian theory rests on changes in relative prices that cause resources to be allocated in ultimately unsustainable ways.
