Krugman Agrees With Tom Woods

In Tom Woods’ Meltdown, he chides conservatives who try to blame the housing bubble solely on the Community Reinvestment Act and other such particular interventions. Woods argues that only the Federal Reserve could explain the general booms (and hence busts) in market economies, and that without the Fed’s easy policies after the dot-com crash, there couldn’t have been a sustained and massive housing bubble.

The Panic of 1819

The Panic of 1819, Murray Rothbard’s incisive and extremely well-styled Columbia University dissertation, provides a fascinating history of the era and an answer to the question of when and how the boom died.

Hayek on the Tiger

“Neo-Classical Formalism” has entailed an undue concentration on the “general price level,” with an eye toward the attainment of “price stability.” Murray N. Rothbard has rightly called this a “fetish” of price stability.