Martin Feldstein, Professor of Economics at Harvard, President Emeritus of the National Bureau of Economic Research, and chair of Ronald Reagan’s Council of Economic Advisers from 1982 to 1984 joins Joe Salerno and most Austrians by speaking out against the Fed’s and central banks in general fear of deflation and by implication their irrational commitment to a 2% inflation target.
Mises Daily Tuesday by Gary Galles: The Jones Act and similar laws have been behind a precipitous decline in global American shipping. Passed for "national defense" purposes, such laws only serve to raise the cost of shipping to US ports while restricting consumer access to goods.
Today would have been the 89th birthday of Murray Rothbard. In this 1988 essay, Ron Paul explores Murray Rothbard's importance in Paul's own political career and the importance of education and scholarship in changing political realities.
Mises Daily Friday by Brendan Brown:
Janet Yellen testified before Congress this week, but the Senate Republicans, who claim to be the guardians of monetary sanity, failed to show any true understanding of monetary policy and the damage the Fed has inflicted.
"The drunken behavior of the Fed is due in large part to its "dual mandate" to maintain price stability and full employment — potentially conflicting goals that can produce schizophrenic behavior."
That drop in the gas prices came just in time. Ground beef was once a simple, basic, and easy source for protein. Now, not so much. But at least iPads are cheaper, right?
This week's Mises Weekends:
Jeff Deist and Jay Taylor, host of Taylor’s Hard Money Advisers, discuss the role of Austrian economics in understanding the market crash of 2008.
Ron Paul responds to yesterday's FCC vote.
Federal spending has soared by almost 20 percent since 2008. Yet, to hear Mr. Obama, one would think federal employees are forced to sell pencils on Constitution Avenue to raise funds to finance their bureaucratic salvation missions.
