Several days ago I highlighted John H. Cochrane’s critique of modern macroeconomics . In today’s Wall Street Journal Austrian Economist Mario J. Rizzo provides an excellent comment on Cochrane’s defense of modern modeling techniques. “Mr. Cochrane’s excessive scientism is on display when he pooh-poohs Paul Krugman’s critique regarding the “haze of
Without mentioning it, Michael Boskin provides supports Robert Higgs’s contention the Regime Uncertainty is a, if not the, major contributing factor to the current stagnating economy. Per Higgs, regime uncertainty is a “pervasive lack of confidence among investors in their ability to foresee the extent to which future government actions will alter
Some great contributors. This might even be worth the high price: Including contributions from David Howden, Guido Hulsmann, Thomas DiLorenzo, Thomas Woods, Robert Murphy, Shawn Ritenour, Jeffrey Herbener, Mark Thornton, William Barnett, Peter Klein, Lucas Engelhardt, and Douglas French. T he book was edited by David Howden and Joseph Salerno, and
A recent “ Notable and Quotable ” in the Wall Street Journal highlights insights from Steve Forbes and Elizabeth Ames’s new book Money: How the Destruction of the Dollar Threatens the Global Economy—and What We Can Do About It . There is much to like in this short excerpt. Echoing Roger Garrison on the housing crisis , Forbes and Ames point out,
Don Boudreaux at Café Hayek highlighted yesterday’s Wall Street Journal article by Mary Anastasia O’Grady where she asks “ What Really Drove the Children North”? Her answer, “Our appetite for drugs caused the violence that made life unbearable in much of Central America.” O’Grady, through Marine Corps Gen. John Kelly who now heads the U.S.
Recently the financial press and media has been abuzz as the Federal Reserve moved closer to the anticipated end to its massive bond and mortgage backed securities purchases known as quantitative easing. James Bullard, President of the St. Louis Federal Reserve Bank, stirred controversy last week when he suggested the Fed should consider
Peter Boettke at Coordination Problem highlights a new IEA has publication by Pascal Salin , Money and Micro-Economics that should be of interest to advanced readers of this blog. Insights from Professor Salin: General: In any human activity, we need to know the causes of a problem in order to define the best ways to solve it. This requirement
Interesting commentary in the Wall Street Journal by Fernández-Villaverde and Ohanian on errors to avoid if the U. S. is to avoid the Eurosclerosis trap (more here and here ) . Many of the factors they list as retarding growth or generating stagnation fit Robert Higgs’s regime uncertainty . Regimes matter. Investment retarding regimes have long
Amity Shlaes has been busy promoting her new biography Coolidge and in the process is making a strong argument for real tax and budget reform as a foundation for increased sustainable market driven prosperity. She made the case very strongly in her Hillsdale College lecture of January 27, 2013, “ Calvin Coolidge and the Moral Case for Economy.”
In a Financial Times article, “ A good engineer who knows his own limits ,” Edward Luce praises Fed Chairman Ben Bernanke for being the adult in the room when it comes to dealing with the current slow recovery from the “Great Recession and for doing so while clearly recognizing the limitation of monetary policy.” He argues that, with the exception
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.