Doug French provides some great commentary on housing market in “ Markets Stagnate Until They Clear .” I don’t know why so many economists and pundits look to return of boom prices and volume as sign of “recovery” in the housing market and necessary for recovery of the economy. What part of an artificial boom accompanied by malinvestment is not
For a great follow-up to George Reisman’s recent commentary on unionism, “ Labor Unions, Thugs and Strom Troopers ” see Walter Block’s recent piece on right to work laws at http://www.LewRockwell.com where he provides a libertarian analysis to right to work laws as an antidote to improper uses of coercion and force by union forces. This is Walter
One of my favorite caricatures of Hayek and Keynes was used on the cover The Hayek-Keynes Debate: Lessons for Current Business Cycle Research (1999). If my memory is correct, Fred Glahe (co-author) discovered the drawing in an issue of The Economist somewhere in the mid to late 1990s. We tracked down the artist and received permission to use the
Oral Argument at Hearing entitled “Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money” Thursday, June 28, 2012 Domestic Monetary Policy and Technology by John P. Cochran. Full testimony and video of proceeding at http://www.financialservices.house.gov/Calendar/EventSingle.aspx?EventID=300542 .
I was in Washington on what was an historic day, June 28, 2012 to testify at Subcommittee on Domestic Monetary Policy and Technology , Committee on Financial Services, U. S. House of Representatives, chaired by Congressman Ron Paul. While it would be nice to think the day was historic because Dr. Paul was continuing his informational hearings
In Michael Pollaro ’s otherwise excellent Mises Daily , “ The Bernanke Bust ” Michael writes, “To Austrians, all [emphasis original] economic “booms” founded on monetary largesse always [emphasis original] end in economic busts, roughly equal in size and intensity to the preceding booms [emphasis mine].” Such a phrasing often leads to a
A day after President Obama opined, “the private economy is doing fine”, the W all Street Journal in its “ Notable & Quotable ” (June 9, 2012, on page A11) highlighted Economist Robert Higgs from his new book “Delusions of Power” (2012) ( Here and here ). Dr. Higgs who has early and often argued that ‘regime uncertainty’ ( Important New Evidence
My introduction to Austrian economics began over 30 years ago when my mentor Fred R. Glahe handed me a couple of pages of handwritten notes on the Hayek-Keynes debate which he had prepared for commentary at a Mont Pelerin Society meeting sometime in the late 1970s and suggested I turn the notes into a dissertation. The ultimate result was the
Amity Shlaes in today’s Wall Street Journal provides “ The Coolidge Lesson on Taxes and Spending ” makes the argument that those, as has been done at Mises Daily here, and here who want to “make government smaller” and “to lower taxes” as a means to “yield prosperity” should look not to Ronald Reagan but to “Silent Cal” Coolidge. Coolidge’s
Boom and Bust: What must be explained in any theory of the business cycle? First and foremost is the general cluster of errors. See Hulsmann’s Toward a General Theory of Error Cycles : The explanation of depressions, then, will not be found by referring to specific or even general business fluctuations per se . The main problem that a theory 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.