A link to my interview yesterday with Jay Taylor. The opening and closing have been edited to remove intro music, commercials and reference to the next segment. About 30 minutes. Listen here If you missed it here is Mark Thornton on last week’s Jay Taylor’s show. About 40 minutes. Dr. Mark Thornton tells us how he believes the effect of current
Sound Advice for Janet Yellen A dam Ferguson ( Jan 27 Weekly Standard ) advice to Janet Yellen is highlighted in “ Notable & Quotable ” in today’s Wall Street Journal. Ferguson suggests that future Fed Chair Yellen should follow John Cowperthwaite whose introduction of free market economic policies are widely credited with turning postwar Hong
Following the Fed meeting last week, I was interviewed by Thomas Ressler, editor of Inside the CFPB ( Published by Inside Mortgage Finance Publications) focusing on the impact of Fed policy on MBS and the housing market. His summary of our discussion: More broadly speaking, Fed watcher John Cochran, emeritus professor of economics at Metropolitan
The always interesting and informative Richard Ebeling is doing regular commentary at EPICTiMES . His most recent is “ Don’t fear Deflation, Unless Caused by Government .” Here Ebeling effectively refutes arguments made by Bernanke and Yellen that the Fed’s massive monetary base expansion was necessary to fight recession and prevent deflation.
p>My replacement at Metro State, Nicolas Cachanosky, continues to write interesting, challenging papers in the Austrian tradition faster than those of us used to the slower pace of retirement can read them. His most recent is “ Hayek’s Rule, NGDP Targeting, and the Productivity Norm: Theory and Application. ” Cachanosky notes: The 2008 crisis
Edmund Phelps of Columbia University writing in the WSJ (June 3, 2003) critiques the Austrian (Mises-Hayek) theory of the business cycle with no reference at all to the central-bank induced artificiality of the boom phase, which is the very core of the theory: One of the most unreasoning fears, yet pervasive, is the nightmare of interwar Austrian
Edmund Phelps’s “False Hopes for the Economy-and False Fears” (WSJ 6/3/03) attempt to undermine the current resurgence of interest in Austrian cycle. He states, “One of the most unreasoning fears, yet pervasive, is the nightmare of interwar Austrian cycle theory: ‘overinvestment’. But in truth, what should be real is the fear of the consequences
A new working paper on Mises.org: Capital Based Macroeconomics: Boom and Bust in Japan and the U.S. by John Cochran and Noah Yetter (Metropolitan College of Denver) Some economists and the financial press believe that the U.S. in the 1990s and Japan in the 1980s experienced economic growth driven by a positive productivity shock. The economic
Conrad Black, in today’s Wall Street Journal ($), defends the myth that the Roosevelt policies saved markets and capitalism from the ravages of the Great Depression. He does partly by making unemployment appear worse than it was at the begining of his term and better than it actually was towards the end of his term. Black states that unemployment
As a partial verification that Adam Smith should not be thought of the as founder of free-market economics (Rothbard’s critique in his History of Thought ), and a major confirmation of the misdirection of effort by much of the economics profession, Bantam Books choose Professor Krueger to write an introduction to a new reprint of the Wealth of
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.