I recently discovered Nouriel Roubini’s Global Macroeconomic and Financial Policy Site , an invaluable source of research on the dollar and the international financial system. Roubini is an economics professor at NYU who write s prolifically on monetary and financial topics. The highlight of the site is his recent paper with Brad Setser, Will the
I am continuing my commentary on The Real Bills Doctrine at LewRockwell.com . The new essay focuses on the inflationary consequences of the system and identifies numerous errors in the arguments to the
The Liberalni Institut of Prague, The Czech Republic has placed their 2004 conference proceedings on-line in MP3 format. There are tons of great Austrian talks here including many by Mises Institute Scholars and
Modern monetary systems operate on the ability to turn debt into money. Mises’ business cycle theory showed that this process results in unsustainable distortions in the productive structure of capital and of relative prices between different capital goods. Mises also showed that, and left to its own devices the credit expansion would unwind in a
In addition to his rejection of the Misesean/Rothbardian critique of the Real Bills Doctrine, Dr. Antal Fekete has taken issue with Mises monetary theory. Don Lloyd has noted the following passage : ...According to Carl Menger, subsequent units of a commodity are valued less by the economizing individual than units acquired by him earlier. This is
If the Mises Site is not enough, there is now another source on the web for economic education (this via Jeff Scott): FINANCIAL EDUCATION FOR TEENS The Federal Reserve and USA Today launched a new online project intended to teach middle school and high school students about economics and personal finances by constructing the front page of a USA
I am continuing my commentary on the Real Bills Doctrine of Antal Fekete. Well, not quite. The current essay deals entirely with the topic of clearing. The issue of Real Bills, claims Antal Fekete, will serve to supplement savings and therefore to enable more economic growth than would occur without
And so I’m the subject of a funny expose on FrontPage Magazine today. Really, there is nothing too complicated about why the left today looks better than the right (and its unthinking defenses of Bush): the right holds the balance of federal power and the left doesn’t. It’s the flipside of the 1990s, when the Republicans attacked Clinton foreign
LewRockwell.com is running my most recent commentary on the Real Bills Doctrine of Antal Fekete, An Error in Fekethmetic . The main point of contention between the Austrians and the Feketians is the question of whether savings and only savings are necessary to fund production, or whether real bills can substitute. On this point, I will quote a
Peter Warburton’s book Debt and Delusion is back in print. Since I wrote an article about his book, I have received a number of inquiries from people about how to obtain a copy. The book was out of print and copies were selling for hundreds of dollars on used book sites. The book is in my opinion a brilliant analysis of the modern financial
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.