Booms and Busts

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Ben Bernanke's Nobel Prize: The Committee Rewards an Arsonist for Claiming to Fight the Fire He Started

Booms and BustsMonetary TheoryMoney and Banking

Blog10/10/2022

Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.

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How the Policy of Price Stability Generates Greater Economic Instability

Booms and BustsThe FedInflation

Blog09/30/2022

The Fed claims 2 percent inflation promotes "price stability." However, that policy also causes the boom-and-bust cycle, which is anything but stable.

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Genuine Recovery Is Up to Investors, Producers, and Consumer Choice

Booms and BustsFree Markets

Blog09/27/2022

Recovery is genuine only when it reaches the masses of individuals. And recovery comes only from the actions of individuals acting in a free market.

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Seeing the Student Loan Crisis as a Form of Boom and Bust

Booms and BustsBusiness Cycles

Blog09/24/2022

Conservatives have missed the point that it is not students particularly that are at fault for the student loan crises, but the entire bureaucratic economic-political system.

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Does Capitalism Itself Create Economic Instability or Is Central Banking the Culprit?

Booms and BustsCapitalismKeynes

Blog09/20/2022

Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem

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Powell's Pivot to "Pain" but No Gain: Triggering the Coming Recession

Booms and BustsInflationStrategy

Blog09/14/2022

The Fed is slowly increasing interest rates in the hopes that the economy will experience a "soft landing." However, there is no way to soften the blows about to fall on the economy.

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Looking at the Economic Myth of the "Soft Landing"

Booms and BustsThe FedInflationBusiness Cycles

Blog09/12/2022

Paul Krugman recently argued that the Federal Reserve can engineer a "soft landing" for the economy as it tries to deal with inflation. Such a view ignores economic realities.

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Throwing the Fed's Machinery in Reverse: Fed Interest Rate Policies Continue to Damage the Economy

Booms and BustsCentral BanksThe FedInflation

Blog09/07/2022

The Fed’s tampering with market signals undermines the process of wealth generation, thereby exerting an upward pressure on the time preference interest rate and the market interest rate.

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Does Reducing Unemployment through Government Spending Boost the Economy?

Booms and BustsKeynesUnemployment

Blog09/06/2022

The standard Keynesian play is to increase government spending in order to reduce unemployment and increase economic growth. Here's why it consistently fails.

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Is a Recession Simply a Decline in GDP? What Does That Mean?

Booms and BustsEconomic PolicyInflationBusiness Cycles

Blog08/22/2022

The "official" definition of a recession is a two-consecutive-quarter decline in GDP, but there are problems with GDP measurement in the first place.

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