An Austrian Taxonomy of Deflation—With Applications to the U.S.
Whether the current recovery will strengthen, which appears to be the prevailing consensus, or whether unforeseen events in the financial arena abort it prematurely,
U.S. Economy
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Industrial Employment and the Policies of Herbert C. Hoover
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
Review of In Restraint of Trade: The Business Campaign Against Competition, 1918-1938 by Butler Shaffer
Butler Shaffer's well-written monograph, In Restraint of Trade, describes in extensive detail why and how most businessmen pleaded for the government to tame them between the end of World War I and the eve of World War II.
Review of A History of the Federal Reserve, Volume 1: 1913–51, by Allan H. Meltzer
Austrians have demonstrated that recessions—and depressions—are the inevitable result of central bank intervention in the economy.
Hoover and Wages in the Depression: A Comment on Douglas MacKenzie: A Rejoinder
It is suggested in Daniel Kuehn’s article in this issue (2011) that MacKenzie (2010) is wrong about Hoover’s effectiveness in pushing a high wage policy that caused high unemployment.
Review of A Perilous Progress: Economists and Public Purpose in Twentieth-Century America, by Michael A. Berstein
Every economist who regards himself or herself as a free-market theorist and advocate should acquire, read, and retain this paean to planning and interventionism as a valuable reference—especially if he or she is also a political libertarian.
Review of The Age of Turbulence: Adventures in a New World, by Alan Greenspan
Kaza reviews Alan Greenspan's book The Age of Turbulence: Adventures in a New World. Kaza asks "Which social acquaintance will defend Greenspan against the charge the seeds of the greatest
Review of A History of the Federal Reserve, Vol. 2: Book 1 (1951–1969), Book 2 (1970–1986), by Allan Meltzer
Arthur Burns, Federal Reserve chairman (1970-1978), delayed Murray Rothbard's doctoral dissertation at Columbia University in the mid-1950s. Rothbard (1969) later observed
Are There Grounds for Limiting Immigration?
Is there any “good” reason for a country such as the U.S.
Boom and Bust: The Political Economy of Economic Disorder
Adam Smith noted in 1776 that “What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.”
