Noah Smith's Bloomberg column praises Milton Friedman's "plucking model" of recessions, where the severity of a bust is connected to the strength of the following recovery. Does this refute Mises' BOOM-BUST theory?
Bureaucracy and Regulation
Proponents claim intellectual property laws are necessary to promote scientific and artistic innovation. Empirical evidence suggests the opposite is true.
Global EconomyStrategyTaxes and Spending
Money and BanksMoney and Banking
In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.
Media and Culture
The US dollar continues to enjoy the confidence of markets, governments, and central banks. But faith in the US dollar is weakening, and many are trying to help the process along.