All Posts Tagged With: "Equilibrium"
A Triple Whammy for Austrian Economics
They say that when economic times are good businesses can get away with sloppy practices. In the intellectual world, however, it seems that sloppy thinking prevails in desperate times and important distinctions get thrown out the window. A good example of this appeared recently in a March 4 New York Times article titled “Ivory Tower [...]
19Aug2009 | Sandy Ikeda | 9 comments | ContinuedA Microeconomist’s Protest
The conventional macroeconomic diagnosis and proposed cures ignore many important structural or microeconomic factors.
1Apr2009 | Mario Rizzo | 27 comments | ContinuedUnderstanding "Austrian" Economics, Part 2
This article appeared in the February 1981 issue. It was originally commissioned by the Silver and Gold Report, Newtown, Connecticut. After the passing of its three founders—Carl Menger, Friedrich von Wieser, and Eugen von Böhm-Bawerk—Austrian economics fell for a long time into eclipse. It was not so much refuted as neglected. English-speaking economists began devoting [...]
1Nov2003 | Henry Hazlitt | 1 comment | ContinuedOpen Society: Reforming Global Capitalism by George Soros
Public Affairs · 2000 · 369 pages · $26.00 Reviewed by Pierre Lemieux In his latest book, Open Society, retired billionaire speculator George Soros continues to argue against capitalism and its justification in economic theory. The book doesn’t put a dent in capitalism, but shows that billionaire financiers don’t necessarily understand the first thing about [...]
1Sep2001 | Pierre Lemieux | 0 comments | ContinuedMarkets Aren’t Efficient?
In his August 22 Washington Post piece, “What’s New About This Economy?” Michael Kinsley summarizes the prevailing orthodoxy among economists: In the church of economic theory, as in that other church, the central symbol of the faith is a cross. Only this one is tilted and looks like an “x” not a “t.” As any [...]
1Dec2000 | Robert P. Murphy | 1 comment | Continued-
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