Faculty Spotlight Interview: John Cochran

Dr. John P. Cochran was born in Fort Collins, Colorado and raised in Phoenix a Arizona. He received his B.A. in economics at Metro State College of Denver and completed his M.A. and PhD in economics at University of Colorado. He is currently Dean, School of Business and professor of Economics at Metropolitan State
College of Denver. He is also the co-author of The Hayek-Keynes Debate: Lessons for Current Business Cycle Research.

 

If you were not a scholar then what do you think you would be doing now? Do you have any hobbies?

UK Proposal for Banking Reform: Fractional-Reserve Banking versus Deposits and Loans

Austrians and others interested in fractional-reserve banking (FRB) will find of interest a banking reform about to be proposed in the UK. Douglas Carswell, an Austrian economics-informed member of the UK parliament for Clacton, is planning to introduce a so-called “Ten Minute Rule Bill” after Prime Minister’s Questions tomorrow (Wednesday, Sept. 15) that could have significant implications for current centralized FRB practices.

Prices and Persuasion

One of the main functions of a price is that it carries information. What information does a price transmit? According to one theory, a price transmits information about the caprice of the buyer or the seller. Prices at the grocery store are high and wages for unskilled labor are low because fat-cat grocers and employers are just evil people. Their evil is given further expression during disasters: they take advantage of the plight of others and jack up the prices of the goods and services they have on offer.