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Booms and BustsCentral BanksThe FedMonetary PolicyU.S. Economy
While President Joe Biden's White House continues to give happy talk about the economy, some major economic storm clouds are brewing. The future does not look good.
Booms and BustsCorporate WelfareCronyism and CorporatismInterventionism
The empty shopping mall: a story of how government actions created a huge malinvestment in western Pennsylvania.
Booms and BustsKeynesMonetary PolicyGold Standard
Poplular history says that massive government spending—made possible by ending the gold standard—ended the Great Depression. As usual, popular history is wrong.
Booms and BustsInflationKeynes
Keynesian economists fantasize that a market economy cannot "gain traction" without "stimulus" schemes from the government. In the end, the only thing stimulated are inflation and recession.
Booms and BustsInflationUnemployment
Unemployment remains low but for the wrong reasons. Low unemployment rates are not a sign that the economy is doing well.
Booms and BustsEconomic PolicyThe FedHayekBusiness CyclesGold Standard
By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?
Booms and BustsBusiness CyclesCapital and Interest Theory
For nearly two decades, business, academic, and political elites have spread the fiction that central banks can engineer prosperity by printing more money. Markets now are discrediting that fairy tale.
Booms and BustsInflationBusiness Cycles
An upcoming recession likely will lead to falling asset prices. But these price decreases do not cause recessions, but rather are a result of them.
Booms and BustsInflationBusiness CyclesGold Standard
While an increase in the supply of gold money would lead to higher consumer prices, such increases in the gold supply do not lead to boom-bust cycles.
Booms and BustsCentral BanksMonetary PolicyBusiness Cycles
The 2004 Nobel Prize in economics was awarded to two economists for their claim that "technology shocks" cause boom-bust cycles. They have it wrong.