Booms and Busts
Displaying 1591 - 1600 of 1845
Banking and the Business Cycle
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.
How Recessions Become Depressions
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.(16:52)
The Economic Culture of Boom and Bust
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(29:32)
Are Bubbles Efficient?
Like the children of Lake Wobegon, writes Robert Blumen, many investors in the 1990s believed that stock market returns would always be above average. They were proven wrong. But Greenspan and many others advance a slightly different justification for the bubble: the efficient markets hypothesis, which argues that the current price, whatever it is and even when pump up by credit expansion, is the best of all possible worlds.
