Nicolas Cachanosky has recently released a very timely and well thought out working paper, “NGDP targeting: is five percent too much?” which should be of interest to all those serious about improving the performance monetary institutions or at least in limiting the harm central control of money unleashes on economic activity. The abstract: I
As highlighted by David Henderson and Peter Boettke , markets and competition are like weeds, not delicate flowers. Economies recover even from severe boom-bust episodes and despite growth-retarding regime uncertainty. Even burdensome regulation, per Pierre Lemieux , causes a “slow-motion collapse” or stagnation, not a crash. But one thing can be
[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
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
“Infrastructure investments” or public works have long been the refuge of Keynesians and other progressives of like stripes as a cure for recession or stagnation. How can there be any significant costs to such projects when resources are idle and interest rates are low? The charge has been renewed with the announcement earlier this week of the
Yesterday when I went for my infusion, I brought two items of reading material with me; The Wall Street Journal and the SSRN un-gated version of the Steve Horwitz’s forthcoming paper in the Spring 2015 issue of Social Philosophy and Policy , “Inequality, Mobility, and Being Poor in America.” The paper is one of the best summaries of a very common
It is good to see Martin Feldstein, Professor of Economics at Harvard, President Emeritus of the National Bureau of Economic Research, and chair of Ronald Reagan’s Council of Economic Advisers from 1982 to 1984, join Joe Salerno ( here , here , ), Mark Thornton who has revived the term, apoplithorismosphobia (ay-pope-lit-horris-mos-foe-be-ah) or
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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.