Safeway and Consumer Sovereignty in Oakland, CA
This post is one in a series entitled Posthumous Refutations. Previously in this series: What That Jobs Report Might Really Mean.
Productive Debt versus Unproductive Debt
Low interest rates don’t especially make lending to small businesses worth the heightened risk. Moreover, if a bank can afford to, it will likely take all the bad-debt charge-offs possible in the fourth quarter.
The Worldly Ascetic: San Bernardino of Siena
San Bernardino of Siena was a paradoxical combination of brilliant, knowledgeable, and appreciative analyst of the capitalist market of his day, and an emaciated ascetic saint fulminating against worldly evils and business practices.
Is Niall Ferguson reading Mises.org
Niall Ferguson the famous Harvard historian appears to be reading Mises.org. Not only is his Newsweek article painfully realistic regarding the prospects for the American Empire, but he also quotes Paul Krugman–the exact same quote that Ben Lee dug up and published on Mises.org.
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From page 3-4 of Ferguson:
Austrian Business Cycle Theory and the Current Economic Crisis
Over on Robert Wenzel’s “EconomicPolicyJournal” blog, it was suggested by a participant that Austrian Business Cycle Theory is a “religion” that Austrian Economists worship. The implication, of course, being that Austrian theory is not really open to logic and facts; rather, it is just some “faith-based” belief system.
Is it the Banks’ Fault?
In his paper Deeper in Dept, Dr. Steve Keen over at the Centre for Policy Development examines four possible explanations for the Australian housing development (p.14):
(quoted)
The Doctrines of One Obscure and Heterodox Scholastic
Heinrich von Langenstein the Elder (1325–1397), while an uninfluential and minor scholastic philosopher in his own and later centuries, made great mischief for modern interpretations of the history of economic thought.
Jean Buridan and the Theory of Money
The Curse of Good Government
Maybe the mechanism of action we know as government cannot be operated in a “proper” way at all, because no intellectual device exists that permits us to properly determine just what is “good” or “bad” government.
