U.S. Economy

The economic theory of interpersonal free exchange is beautifully simple.

The business cycle refers to fairly broad changes in economic activity according to a well-identified sequence, which includes a boom, a crisis, a

The financial elites of this country, notably the Morgan, Rockefeller, and Kuhn, Loeb interests, were responsible for putting through the Federal Reserve System, as a governmentally created and sanctioned cartel

Margo concludes what Austrian economists have surmised all along, namely that the rise in real wages during this period very closely approximated the rise in worker productivity.

Panelist Nancy-Ann DeParle’s description of Newhouse’s paper as a “nice job of cataloging” is an apt description of this 1063-page tome as a whole. Its reading level is low enough that professors can assign readings 

The title of the book may initially seem to be an exercise in hyperbole, but such is not the case. How Capitalism Saved America is indeed the untold history of our country.

Ludwig von Mises established the foundations of modem Austrian economics while Irving Fisher established the foundations of modem mainstream macroeconomics and central bank policy. 

On October 29, 1929, the roof fell in on the booming American economy.

Most historians claim that Herbert Hoover adhered to a policy of laissez faire after the stock market crash of 1929. This laissez faire policy is allegedly responsible for the severity and persistence of unemployment 

A government is a territorial monopolist of compulsion — an agency which may engage in continual, institutionalized property rights violations and