Although John Kenneth Galbraith promoted socialism and Keynesianism, at least he was an entertaining writer. His book, The Great Crash, 1929, provides a readable history of the stock market crash that helped bring on the Great Depression.
Keynesian economists claim that the economy needs at least 2-3% inflation in order to avoid business cycles. But these inflation rates over time are economically ruinous and they actually harm economic growth.
It is no surprise that "inflation" is one of the major political issues this election cycle, but few know what inflation really is, let alone what causes it.
After a dramatic couple of days in the markets, economists and political figures are calling for the Fed to cut interest rates. But if we ever want to see an end to all this economic chaos, what we need are not lower rates or higher rates, but accurate interest rates.
More than two decades ago, the Federal Reserve joined with the federal government to make housing more affordable. The first housing bubble popped in 2008, and a second bubble is on its way to bursting.
Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton.
More than two decades ago, the Federal Reserve joined with the federal government to make housing more affordable. The first housing bubble popped in 2008, and a second bubble is on its way to bursting.
The great train wreck seems to be happening. Mark Thornton shares his latest guesses and outlook.
Even as the Federal Reserve continues to manipulate interest rates to “fight” the results of the business cycle, Austrian economics teaches that business cycles occur because of the manipulation. They never learn.
Contrary to Milton Friedman’s thesis that the decline in the money supply caused the Great Depression, the real reason was the collapse of real savings, which was due to loose monetary policies by the Federal Reserve.
