Review of Time and Money: The Macroeconomics of Capital Structure. By Roger W.Garrison. Routledge, 2001. xvi + 272 pgs.
Roger Garrison’s long-awaited book compares and contrasts Austrian business cycle theory with a number of other approaches, including Monetarism, New Classicism, and New Keynesianism. But I propose to concentrate on only one strand in this rich volume.
Greenspan has lowered rates again, but he can’t know if he has done the right thing. Under the far-superior gold standard, such questions never came up. Lawrence Reed explains.
Wal-Mart has come under fire, even now, for selling gasoline at prices that some state legislators say are too low. William Anderson debunks the charge.
When the state passes a law, even if trivial, it backs that law by the threat of force. Sometimes it actually uses it. Ray Haynes explains.
Will the free market underproduce roads? Not a chance. Chris Westley explains how government intervention causes traffic congestion.
Why are some of the top names in the securities industry cooperating with an obvious shakedown racket? Gregory Bresiger explains what’s behind the Wall Street Project.
What are prices and what do they reveal about future events? Gene Callahan explains.
Conservation is not an exercise in saving us from ourselves. It is an attempt by the political classes to criminalize choices that we would make in a free market.
Media commentators are clueless on the Austrian theory of the business cycle, which is why they think interest rates can never be too low. Dan Mahoney lays out the basics.
History is never as clear-cut as it is taught in public schools, but in this instance, something very strange is afoot. Tibor Machan discusses new revelations on nineteenth-century American history.
