Listen to the Audio Mises Wire version of this article. In 1966, famed Chicago School economist Milton Friedman wrote a hugely influential essay on the methodology of economics entitled “The Methodology of Positive Economics” (contained in the volume Essays in Positive Economics ). In distinguishing economics as a “positive science”, Friedman
Among economists following an idea known as “market monetarism”, one of their core proposals is that the central bank should “target” a specific annual rate of increase in the nominal GDP figures, which are not adjusted for inflation. Typically, this involves targeting an NGDP annual growth rate of something like 5%. This, it is promised, will go
Key methodological differences between Austrians were highlighted in Milton Friedman’s “The Methodology of Positive Economics.” A key piece of conflict: Friedman’s focus on prediction rather than explanation. Original Article: “ Milton Friedman’s Methodological Mistake “ This Audio Mises Wire is generously sponsored by Christopher Condon.
While some people are increasingly concerned about (and others cheer) the political implications of censorship on social media platforms like Facebook and Twitter, few have engaged in any analysis of how things reached this point and why social media companies seem universally of the same mind in designing their policies. Ultimately, though, it
In the wake of the extreme price explosion in GameStop stock , driven in large part by the subreddit WallStreetBets on Reddit, there is naturally a great deal of talk about “market manipulation” and related concerns. Many people are saying that hedge funds manipulate markets. Others are saying that the rich and powerful are now upset because “
En 1966, el famoso economista de la Escuela de Chicago Milton Friedman escribió un ensayo enormemente influyente sobre la metodología de la economía, titulado «The Methodology of Positive Economics» (contenido en el volumen Essays in Positive Economics ). Al distinguir la economía como una «ciencia positiva», Friedman se centra en el uso de la
Entre los economistas que siguen una idea conocida como «monetarismo de mercado», una de sus principales propuestas es que el banco central debe «apuntar» a una tasa específica de aumento anual de las cifras del PIB nominal, que no se ajustan a la inflación. Por lo general, se trata de fijar como objetivo una tasa de crecimiento anual del PIBN de
Mientras que algunas personas están cada vez más preocupadas (y otras se alegran) por las implicaciones políticas de la censura en plataformas de medios sociales como Facebook y Twitter, pocas se han dedicado a analizar cómo se ha llegado a este punto y por qué las empresas de medios sociales parecen tener la misma opinión en el diseño de sus
A raíz de la extrema explosión de los precios de las acciones de GameStop , impulsada en gran parte por el subreddit WallStreetBets en Reddit, naturalmente se habla mucho de «manipulación del mercado» y de preocupaciones relacionadas. Muchos dicen que los fondos de cobertura manipulan los mercados. Otros dicen que los ricos y poderosos están ahora
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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.
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