Our Brave, New, Leveraged World
According to a new report just out by McKinsey, global debt has increased by $57 trillion since the Great Recession, outpacing world GDP growth during this time period.
Booms and Busts
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Shostak: The ECB Fears Deflation, But You Should Not
The European Central Bank plans to ramp up its own version of quantitative easing because it fears deflation. But deflation really means an increase in real wealth and an end to many malinvestments.
Infrastructure and Public Works: Crowding Out and Economic Instability
While the policy may appear to work ─ the effect is temporary. One can achieve a short term lower unemployment rate but only at the cost of higher unemployment long term and increased instability.
The ECB Fears Deflation, But You Should Not
The European Central Bank plans to ramp up its own version of quantitative easing because it fears deflation. But deflation really means an increase in real wealth and an end to many malinvestments.
The Depression of 1873–1879: An Austrian Perspective
This paper analyzes the period 1867–1879 in American economic history from an "Austrian" perspective.
If the Economy’s So Strong, Why Is the Fed Keeping Rates So Low?
Mark Thornton Discusses the Fed's Non-Plan.
Why the Government Hasn’t Yet Managed to Destroy the Economy
The government cripples the economy a little more each day, but thanks to the resilience of markets, we've avoided economic destruction. Nevertheless, we're still a lot poorer than we would have been without big government.
Moving Money Around Won’t Make Us Richer
At the individual level, we can't get rich by spending money, but Keynesian stimulus is built on the idea that yes, spending money does in fact make you richer. Unfortunately, it only makes some people richer, not including you.
The End of Bubble Blowing?
In this fascinating interview, Mark Thornton explains how the Austrian business cycle predicted the housing bubble, and how those cashing in on it
