Global Economy

Tyler Cowen has written an unusual book. From the title, one expects a book that addresses the current economic crisis and prescribes a remedy for it.

Think once more and above all of Germany, where time is running out fast — the time, I mean, during which repressed inflation can still be removed before the price-wage spiral gets going, notwithstanding all the controls of the occupation authorities.

The problem is not really economic but political. And as long as "the leadership of the Party" and "Marxism, Leninism, Mao Ze-dong thought" remain enshrined in the preamble to the Chinese constitution, the solution is likely to remain as elusive as ever.

Working closely with other fellows and resident Mises faculty, sharing concerns and solutions, networking as a Mises summer fellow is a big leg up for the young Austrian in meeting the challenge of launching a successful career in an academic world that is again growing increasingly hostile to the market economy and society.

Bubble activities are not self-funded; they require money "out of thin air," which is employed to divert real savings to them from wealth generators.

Government interventions are at the root of the problem as they disrupt the incentive structure that bankers face, limiting their propensity to abide by this sensible practice. The explicit guarantee by the Central Bank of Iceland altered bankers' risk preferences, and resulted in the risky undertaking being gingerly assumed to be sustainable.

The text of a speech given by University of California at Los Angeles professor of economics Benjamin M.

A strong central bank is the creator of, not the cure for, inflation and the business cycle.

Today is Earth day, and a week ago we “celebrated” tax day.

A drastic turn to responsible economics is the only legitimate way to escape the deep rut Ireland finds itself in.