Posner Gets It Wrong on Macroeconomics
I say to Judge Posner, look to Hayek on the business cycle, the way you did on law and economics.
Booms and Busts
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The Gnome Thought Experiment
The Austrian School has always had a rich conception of the structure of production.
The Monetary Tsunami Is Coming
In his speech at Jackson Hole, Wyoming, the Fed chairman disappointed most pundits. He did not promise another massive infusion of fake money, i.e., QE3. I suspect that a strengthening in bank lending is an important factor behind the Fed's decision to postpone it.
Is Deleveraging Bad for the Economy?
People should live below their means during the recession.
Day of Reckoning
Imagine, for just a moment, that US government debt were rated in the same way that municipal bonds or regular corporate debt are.
The Higher-Education Bubble Has Popped
Because they can't find jobs, 85 percent of college grads move back in with their parents after they graduate.
Out, Out Damn Depression: FDR in 1938
Despite the billions and the debt, the depression was back. And it was not a new depression. It was the old one, which had not been driven away but merely hidden behind a curtain of 15 billion dollars of new government debt.
Unhinged
This article originally ran on Tuesday, February 17, 2009. It was near the low of the last stock-market cycle.
Anatomy of the Great Recession
Recorded at Mises University 2011. Includes an introduction by Mark Thornton.
