The blog works, knock on wood

There is this term in the software world: upgrade. You think it might mean upgrade but it doesn’t necessarily. Sometimes it means two weeks of maddening frustration, searching forums, waiting, crashing, workarounds, headaches, screaming, cursing, and contemplated defenestrations. So it has been with the Mises blog, but after all of this, the system seems to have stabilized. A major factor here is that all the world’s spam comments seem to be directed mainly at the Mises blog, so getting the creeps banned is #1 priority.

Last Knight Live Blog: Final Entry - Kraus

This is the last post of a quite long journey across the content of the book. I have decided to stop here, i.e. omit the discussion of the last two chapters, Fragmentation of the Movement and Last Years, not because they are uninteresting, in a number respects they certainly are, but because I am not particularly interested in personal matters. Those of you who have followed this live blog more or less regularly will have noticed that it is theoretical matters which interest me most.

Why Not Try the Free Market?

Taxi drivers in Washington DC went on strike recently to protest the mayor’s decision that they use meters rather than a fare zone system. Well, why not just let each taxi company charge what they want and in a manner in which they choose? In other words, for once why not try the free market instead of the government controlled taxi system that you find in most (perhaps all) cities?

Last Knight Live Blog 28 - Kraus

In this entry I am going to comment on some aspects in one of Mises’s book-length monograph, Theory and History, on epistemology/methodology of social science as a whole, not just economics narrowly conceived. Last Knight’s chapter 21 deals comprehensively with a number of issues in Theory and History. As the book’s title suggests, the meaning and problems in connection with multi-faceted problems in theoretical and historical dimensions of social science research constitute the core of it.

Credit Crisis: Precursor of Great Inflation

The so-called “credit crisis” is gaining momentum. Investors increasingly question the solidity of the banking system, as evidenced by banks’ tumbling stock prices and rising funding costs. With bank credit supply expected to tighten, the profit outlook for the corporate sector, which has benefited greatly from “easy credit” conditions, deteriorates, pushing firms’ market valuations lower. In fact, peoples’ optimism has given way to fears of job losses and recession on a global scale.

Financial Times Letter Confuses Credit and Savings

The Feb 5 Financial Times published a letter stating:
Sir, The widespread consensus that the aggressive interest rate cut policy adopted by the then Federal Reserve chairman Alan Greenspan after the tech bubble’s burst caused the recent market turmoil is totally misleading. The Fed by making money cheaper has determined a large-scale tendency to borrow money for making investments. This has sustained economic growth.
The error here is that credit does not fund economic growth, only actual savings.
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