All Posts Tagged With: "malinvestment"

Progressive Intolerance

Television pundits increasingly express an attitude that is at once arrogant and ignorant: The people who oppose Keynesian economics—specifically an increase in government deficit spending to create jobs and jumpstart the economy—are the same kind of people who also believe that the earth is only several thousand years old (rather than 4.5 billion), that evolution [...]

26Oct2011 | Sheldon Richman | 7 comments | Continued

The Canard of “Underutilized Resources”

Last November the Federal Open Market Committee announced plans to purchase, by printing money, $600 billion of long-term government bonds over the next 6 months. This “quantitative easing,” Fed Chairman Bernanke assures us, is necessary to aid an economy that is suffering from “a very high level of underutilization of resources.” In other words, there’s [...]

24Feb2011 | Tyler Watts | 1 comment | Continued

And the Slump Goes On

Official economic statistics and the underlying economic reality sometimes differ starkly. Such discrepancies may be almost inevitable when a small group of macroeconomic experts sets the official dates for peaks and troughs of aggregate economic activity. The Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) recently “determined that a trough in [...]

24Feb2011 | Angel Martín Oro | 13 comments | Continued

Liquidity Trap or Malinvested Resources?

Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. They’re wrong.

2Jun2010 | William L. Anderson | 2 comments | Continued

Must We Live in Long-Term Recession?

There is an alternative, one that will lead to economic recovery, more wealth, and higher living standards.

24Feb2010 | William L. Anderson | 11 comments | Continued

Human Action: The 60th Anniversary

We are celebrating the 60th anniversary of a great book, Human Action: A Treatise on Economics, by a learned man and a clear thinker: the Austrian economist Ludwig von Mises. It presents Mises’s understanding–after long years of study and thought–of how the market economy functions. It is a major contribution to human knowledge. Interventionist ideas [...]

19Aug2009 | Bettina Bien Greaves | 2 comments | Continued

On the Austrian Theory of the Trade Cycle, Part II

I’m not sure where recent events—the economy’s still-ongoing turmoil—leave my assessment of the Austrian theory. But I am much more inclined now to find in it the empirical oomph that for so many years I thought it lacked.

1Apr2009 | Donald J. Boudreaux | 6 comments | Continued

Inflation: Monetary and Educational

Thanks mainly to the Austrian economists, especially Ludwig von Mises, monetary inflation is a phenomenon that is well understood. When the state overproduces money, certain consequences necessarily ensue. The supply of money is not, however, the only thing that government inflates, or overproduces. Something else it has inflated is the production of educational credentials, college [...]

1May2005 | George C. Leef | 2 comments | Continued

From Pennsylvania to Verdun: Friedrich List and the Origins of World War I

World War I, or the “Great War” (as most Europeans still call it), was one of the biggest disasters in human history. It not only killed and maimed millions, the cream of a generation, it also destroyed the liberal, cosmopolitan system that had been created in the nineteenth century. It was, moreover, the direct cause [...]

1Jan2004 | Stephen Davies | 0 comments | Continued

America’s Great Depression by Murray N. Rothbard

Ludwig von Mises Institute · 2000 · 368 pages · $29.00 Reviewed by Roger W. Garrison It may not be conventional to review the fifth edition of a book that appears several years after its author’s passing. But America’s Great Depression is not a conventional book. It is written with verve and aplomb. And its [...]

1Sep2001 | Roger W. Garrison | 1 comment | Continued

Money in the 1920s and 1930s

Richard Timberlake is a professor of economics retired from the University of Georgia, and author of Monetary Policy in the United States, An Intellectual and Institutional History (University of Chicago Press, 1993). This article is the first in a series. One of the most enduring and troublesome mysteries in economics is money: how it is [...]

1Apr1999 | Richard H. Timberlake | 3 comments | Continued

How Real Is the Asian Economic Miracle? A Reprise

“In retrospect, all fools become wise.” —Ludwig von Mises In the November/December 1994 issue of Foreign Affairs, Stanford economist Paul Krugman wrote a controversial article titled “The Myth of Asia’s Miracle.” He argued that, like Stalinist Russia and other centrally planned economies of Eastern Europe, the Southeast Asian nations were authoritarian and engaged in “growth [...]

1Apr1998 | Mark Skousen | 0 comments | Continued

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