All Posts Tagged With: "business cycle"
The Recurring Crisis
Recently the governor of the Bank of England announced that the “nice” times had come to an end. (In the Bank’s lexicon, NICE = “Non-Inflationary Constant Expansion”). This news will not come as any shock to the many Americans who have had their homes repossessed recently, but it does appear to have startled many of [...]
1Jul2008 | Stephen Davies | 0 comments | ContinuedThe Great Depression According to Milton Friedman
Ivan Pongracic, Jr. teaches economics at Hillsdale College. He extends special thanks to Lawrence H. White and Ivan Pongracic, Sr. for their helpful comments.
Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such [...]
Ludwig von Mises: The Political Economist of Liberty, Part II
Mises’s defense of classical liberalism against the various forms of collectivism was not limited “merely” to the economic benefits of private property.
1Jun2006 | Richard M. Ebeling | 0 comments | ContinuedThe Greenspan Fed in Perspective
Some readers of the Wall Street Journal might have been led to believe that Alan Greenspan had somehow followed Milton Friedman’s monetary rule. We now see, though, that there was no well-grounded rule; there was no standard.
1Jun2006 | Roger Garrison | 0 comments | Continued“The Tariff is the Mother of Trusts”
Why should we expect business people to favor laissez faire and to abhor government intervention? Few people outside of business do so.
1Jun2006 | Sheldon Richman | 0 comments | ContinuedJohn Maynard Keynes: The Damage Still Done by a Defunct Economist
Seventy years ago, on February 4, 1936, the English economist John Maynard Keynes (1883–1946) published what soon became his most famous work, The General Theory of Employment, Interest, and Money. Few books, in so short a time, have gained such wide influence and generated so destructive an impact on public policy. What Keynes succeeded in [...]
1May2006 | Richard M. Ebeling | 32 comments | ContinuedHazlitt on Gold
Jude Blanchette is a research fellow at FEE.
Henry Hazlitt concentrated much of his thinking and writing on the topic of money, producing two books and dozens of articles and columns on the subject. His writings during the dark years following World War II, published on the editorial page of the New York Times and in [...]
The Hayek-Keynes Debate: Lessons for Current Business Cycle Research by John P. Cochran and Fred R. Glahe
Edwin Mellen Press • 1999 • 200 pages • $89.95
Unlike some, this book’s title accurately reveals the theme and goal of the text. The authors have set for themselves an admirable task. In a book of only about 200 pages they review the debates that occurred during the 1930s between F. A. Hayek and John [...]
We Need a Global Fed? It Just Ain’t So!
Some economic pundits see every instance of economic disorder as proof of the defects of capitalism and of the need for more extensive government regulation of the economy. It never seems to cross their minds that government regulations might even destabilize markets. A recent example of such thinking comes from Jeffrey E. Garten, dean of [...]
1Feb1999 | George A. Selgin | 0 comments | ContinuedAre Financial Markets Inherently Unstable?
Dr. Skousen (http://www.mskousen.com; mskousen@aol.com) is an economist at Rollins College, Department of Economics, Winter Park, FL 32789, a Forbes columnist, and editor of Forecasts & Strategies.
“There is an urgent need to recognize that financial markets, far from trending towards equilibrium, are inherently unstable.”
—George Soros1
In the aftermath of the collapse of emerging economies in Asia, eastern [...]
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Book Reviews
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
