The Economics of Big Cities
Thinking through the economics of big cities sheds light on general principles of free markets.
Repudiation Is an Option
We have a government that cannot control its spending, and we have a national debt that cannot possibly be paid back.
Eulogy for Ludwig von Mises
I never heard a word of personal bitterness or resentment from his lips.
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Ascendancy of The General Theory
During Robert Murphy’s Keynes, Krugman, and the Crisis lecture, yesterday evening, one of the attendees asked what about John Maynard Keynes’ General Theory made it so popular amongst academics. Similarly, another student asks in ‘questions for the professor’ why there was not as large of a recoil against Keynes’ book as one might have expected. These are fairly popular questions, although finding a convincing answer is difficult. Here is my attempt at one.
The Space Shuttle is dead. Good riddance!
Did you know that two significant events in spaceflight took place in 1969? The first was the first manned landing on the moon, on July 20, 1969. The second is a little less known. Buoyed by the success of the space program, President Nixon made the fateful decision to launch the Space Shuttle program in that same year.
Digitizing Money Inflation Changes Nothing
Any student of money and banking recognizes the sophistry in saying that “the Fed does not pay with paper money.”
Hutt’s Crushing Blow to Keynes
Hutt’s work in The Theory of Idle Resources is truly timeless, and being timeless, it is just as fresh and relevant today as when first published in 1939.
There Is Life after Default
So, isn’t it time to demythologize all of this? Treasuries are bonds just like any other bonds. There’s nothing magic, mythical, or sacred about them. A default on US government debt is no more or less radical than a default on any other kind of debt.
Chairman Bernanke, Is Gold Money?
Gold money would put an end to — or at least expose — the thefts and power grabs perpetrated by the government.
