Booms and Busts

In this blog post at Pacific Research Institute, I criticize former Treasury S

And here I thought recessions and the business cycle had something to do with state manipulation of the money supply.

Here's what I would like to see: the whole of Wall Street rising up against the Fed and demanding that it turn off the spigots and let the economy get back on an even keel. Let the correction happen and let profits and wages fall in the overblown sectors.

Contrary to Minsky, our analysis shows that it is the existence of the central bank that makes modern capitalism unstable.

As late as 1999, oil was trading at $10 per barrel and gold at $250 per ounce, down from their nominal peaks in 1980 of $39 and $850 respectively.

Pat Buchanan’s recent attempt to diagnose the sinking dollar demonstrates that ignorance of basic economics is not limited to the Left.

One of the claims made against the gold standard is that there has been more stability since we adopted a paper standard than when we were under go

The Hans Sennholz Memorial Lecture, delivered at the Austrian Student Scholars Conference hosted by Grove City College; 2 November 2007.

But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears

THE FREEMAN Letters to the Editor Thanks to Milton Friedman’s brilliance, charisma and diplomacy he became an ardent spokesman for many free