All Posts Tagged With: "Federal Reserve System"
The New Fed
“Things are seldom what they seem.” —W. S. Gilbert, “H.M.S. Pinafore” Nowhere is this more true than in government, which means we have to watch it closely. Unfortunately preconceived notions can make us impervious to events right in front of us and lead us to colossal misperceptions. Take the Federal Reserve System. (All together now: [...]
21Sep2011 | Sheldon Richman | 2 comments | ContinuedGovernment: More Incompetent than Ever
Most intellectuals support big government, and millions of people depend on it. So why, with thousands of laws, millions of employees working to carry out those laws, and trillions of dollars spent, is it in trouble? The most popular big-government programs–like Social Security, Medicare, and Medicaid–are going broke. These entitlements account for more than half [...]
19Apr2010 | Jim Powell | 1 comment | ContinuedStealth Expansion of Government Power
The government of the United States spent the year debating major new undertakings, ranging from health care to climate change to energy development to tax reform. Yet a far more fundamental shift, in the form of a rapid and pervasive expansion of government power over the private sector of the economy, has been going on [...]
23Oct2009 | Murray Weidenbaum | 1 comment | ContinuedSaving Is Killing the Economy?
In the midst of the current recession, many of the oldest fallacies in economics are making a comeback. In a column titled “Why Saving is Killing the Economy,” senior writer Chris Isidore repeats one of the oldest: that the key to economic recovery or growth is consumption and that saving retards that process. Isidore states [...]
19Aug2009 | Steven Horwitz | 6 comments | ContinuedTransforming America: The Bush-Obama Stimulus Programs
George W. Bush’s and Barack Obama’s “stimulus” programs will permanently transform the American economy. The market-based system that has produced unprecedented prosperity relies on profit and loss, which rewards individuals and firms that add value to the economy and penalizes those that detract value. The various stimulus programs undermine that system. My discussion will focus [...]
19Aug2009 | Randall G. Holcombe | 13 comments | ContinuedFinal Comment on Salerno’s Monetary Program
I am not going to re-argue the points of difference between Salerno’s arguments and mine in this final rejoinder. The reader must decide for himself which parts if any of our respective views are most logical and most useful in dealing with the events under scrutiny. I find that nothing in Salerno’s final account refutes [...]
1Sep2000 | Richard H. Timberlake | 1 comment | ContinuedMoney and Gold in the 1920s and 1930s: An Austrian View
Joseph Salerno is a professor of economics in the Lubin School of Business at Pace University. In consecutive issues of The Freeman, Richard Timberlake has contributed an interesting trilogy of articles advancing a monetarist critique of the conduct of U.S. monetary policy during the 1920s and 1930s.[1] In the first of these articles, Timberlake disputes [...]
1Oct1999 | Joseph T. Salerno | 7 comments | ContinuedFriedrich A. Hayek: A Centenary Appreciation
In 1967, English economist Sir John Hicks published an essay titled “The Hayek Story” in which he said that: When the definitive history of economic analysis during the nineteen thirties comes to be written, a leading character in the drama (it was quite a drama) will be Professor Hayek. . . . Hayek’s economic writings [...]
1May1999 | Richard M. Ebeling | 2 comments | ContinuedFaith in the Fed
Economic life is encompassed by political and social institutions. When they are conducive to economic effort and productivity, conditions may improve and bring forth general prosperity. When they turn hostile and burdensome, economic conditions are bound to deteriorate. This is why everyone must always keep an eye on the body politic. A prominent political institution [...]
1Apr1997 | Hans F. Sennholz | 8 comments | ContinuedHow Much Do You Know About Liberty? (a quiz)
Try your hand at answering the following questions: 1. What method of resolving disputes did trial by jury replace? 2. Which great American patriot was called the “Prince of Smugglers”? 3. What bulwark of American liberty do we owe to the Antifederalists? 4. How many slaves were liberated by Lincoln’s Emancipation Proclamation? 5. After the [...]
1Jun1996 | FEE Admin | 0 comments | Continued-
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