The headline in the print edition of the Denver Post of an associated press story on the nomination of Janet Yellen highlights a quote from President Obama, “She understands the human cost when people can’t find a job.” This statement about then-new Fed Chair Yellen, which emphasizes Yellen’s Keynesian-based commitment to the unemployment prong of
Mark Thornton and Mises in today’s Wall Street Journal in “ Letters to Editor ” responses to Alan Blinder’s Easing Angst About Fed Easing which originally appeared March 13 in the print edition. A15. Mark’s commentary (2 nd letter in the link above): Prof. Blinder aptly explores the dangers of the Fed’s easy-money policy but claims it has
In early 2009 at the AEA meetings, Stanford economist John Taylor, used the term “Mondustrial Policy to criticize the Fed and Treasury response to the financial crisis. Taylor, as quoted in a WSJ bolg post by Jon Hilsenrath ( http://blogs.wsj.com/economics/2009/01/05/the-feds-outspoken-critic/ , used this “unflattering term” to describe a policy
[This interview is from the December issue of The Free Market. ] Mises Institute : You recently retired after a long time at Metropolitan State University of Denver, where you were both an economics professor and the dean of the Business School. How did you end up there, and end up as dean? John Cochran : I had a good guardian angel who helped me
When L.H. White writes, people read! Larry White has just released a must read working paper on SSRN, “ Hayek and Contemporary Macroeconomics ”. While the abstract is not optimistic, the paper actually provides much to encourage those pursing a capital-structure based macroeconomics and working to apply Austrian business cycle theory (ABCT) to
The Wall Street Journal in its Letters section today has two good comments on Ruchir Sharma’s “How Spending Sapped the Global Recovery,” (op-ed, Jan. 16). The on-line teaser, “Nothing to Lose but Our Keynes: Government spending on infrastructure is only worth doing if it enables future value creation by the private sector.” Of particular interest
In a comment on my interview in the Free Market that ran on the 27 th as a Mises Daily asked if there was a video anywhere of my introductory lecture mentioned in the interview. Much of that lecture was incorporated into my presentation for a Mises Circle in Colorado Springs: Mercantilism[crony capitalism]: The Unvanquished Foe of Liberty . The
Letter in the WSJ today: Our Shortage of Jobs Isn’t From a Lack of Spending In “Voters to Democrats: Jobs, Jobs, Jobs” (op-ed, Feb. 19), former President Bill Clinton’s pollster Doug Schoen writes: “Let’s be clear. The Democratic brand is in trouble–big trouble. . . . The Democrats need to do a number of things. First and foremost, they need to
Robert Higgs introduced the concept of “regime uncertainty”, government policies and actions that threaten property rights, in his outstanding paper, Regime Uncertainty: Why the Great Depression Lasted So Long and Why Prosperity Resumed after the War to explain the depth and duration of the Great Depression with special attention to the “Roosevelt
Pierre Lemieux wrote an indispensible book ( Somebody in Charge: A Solution to Recession) for anyone who wishes to understand the before, during, and immediate aftermath of the “Great Recession.” The book’s importance is greater than just his analysis of the crisis. He thoroughly exposes the underlying weaknesses and fallacies of the whole
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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.