U.S. Economy

The Fed and it’s friends blamed cold weather for much of the year’s lackluster economic growth.

Amateur social scientists such as Norbert Wiener (a professional mathematician) predicted, in 1949, that we faced “a decade or more of ruin a

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. 

Austrians have demonstrated that recessions—and depressions—are the inevitable result of central bank intervention in the economy. 

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.

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.

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 

Arthur Burns, Federal Reserve chairman (1970-1978), delayed Murray Rothbard's doctoral dissertation at Columbia University in the mid-1950s. Rothbard (1969) later observed

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

In an age when deflation is widely feared and the threat of deflation serves as a justification for radical policy proposals, Bordo and Redish have done a great service in showing that deflation is not harmful to the economy,