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“President Obama rammed through his new stimulus bill, warning of an irreversible recession if Congress failed to act. But bestselling author Thomas E. Woods Jr. warns that Obama’s “stimulus package” will do far more damage to our economy than even
“Currency crises have become more and more frequent in part because speculators can mobilize more and more money. A generation ago, central banks, like the U.S. Federal Reserve System, had more money than anyone else and weren’t afraid to use
Bernanke is Time’s Person of the Year Steve Horwitz The Austrian Economists
Ron Paul talks inflation and economics with CNN.
“Nobel Economics Laureate F.A. Hayek summed up the enigma of money succinctly: “Money, the very “coin” of ordinary interaction, is [hence] of all things the least understood and—perhaps with sex—the object of greatest unreasoning fantasy; and like sex it simultaneously
Are monetary and banking problems due to a few misguided policies or incompetent managers? Or are there fundamental flaws in monetary and financial institutions, principally central banks and the legal and monetary frameworks that accompany them? “Gold Standard Policy and
“My essay on causes of the financial mess focused on trying to identify the initial “impulses” that set the boom-bust cycle in motion because (as this symposium shows) economists have a variety of views about the impulses, and because identifying
“Our ongoing financial turmoil began in the mortgage market. Real-estate loans at commercial banks grew at a remarkable 12.26 percent compound annual rate over the four-year period from the midpoint of 2003 to the midpoint of 2007.[1] The expanded volume
“The Monetary Theory” Chapter 3 of: Economics as a Coordination Problem: The Contributions of Friedrich A. Hayek Gerald P. O’Driscoll, Jr. Kansas City: Sheed Andrews and MkMeel Inc., 1977.
“Monetary Nationalism Reconsidered” from Money and the Nation State by Lawrence H. White The Independent Institute
“Rational Expectations, Politics and Stagflation” Gerald P. O’Driscoll, Jr. Chapter 7 of: Time, Uncertainty and Disequilibrium: Exploration of Austrian Themes ed. Mario Rizzo Lexington, MA: Lexington Books, 1979.
Interest on the Debt Will Make Things Interesting The San Francisco Examiner Ralph Benko
“Washington Is Quietly Repudiating Its Debts” Gerald P. O’Driscoll, Jr. The Wall Street Journal, August 22, 2008.
Economic Liberty Lecture Series: Steve Horwitz from The Future of Freedom Foundation on Vimeo. Professor Steve Horwitz, Charles A. Dana Professor of Economics at St. Lawrence University, gave a talk entitled, “Do We Really Need a Central Bank?,” during a
“Asset Bubbles and Their Consequences” Gerald P. O’Driscoll, Jr. Cato Institute Briefing Papers, May 17, 2008. Via the Cato Institute
“Supbrime Monetary Policy” Gerald P. O’Driscoll, Jr. The Freeman: Ideas on Liberty, November 2007 Via the Cato Institute
This essay challenges the conventional wisdom about money and monetary policy. The role of money in fostering prosperity is a function of the quality, as well as the quantity, of money. Inflation always harms the performance of an economy. Deflations
Two Philosophies of Money: The Conflict of Trust and Authority S. Herbert Frankel New York: St. Martin’s Press/Basil Blackwell, 1977.
“A 50 basis point cut in its federal funds rate target on Wednesday marks a reversal at the Fed.” ~William J. Luther
“Freer economies are able to make human capital (and self-improvement) more enticing for workers.” ~Vincent Geloso
“When freedom from coercion is no longer a shared societal goal, history teaches that unimaginable horrors can be just around the corner.” ~Barry Brownstein
“A confused society cannot coalesce upon what a ‘fact’ even is, much less a vision of the common good.” ~Katelyn Shelton
“Humans do not obtain god-like knowledge, wisdom, or goodness by acting politically.” ~Donald J. Boudreaux
“Benefits are contingent, and the contingencies — no jobs, no marriage — are detrimental to women long term, and disturbingly similar to the restrictions a polygamist would impose.” ~Michael Munger
“During the silly season of presidential elections, which often brings out the worst in us, it’s important to remember that true friendship is worth more than political pride.” ~Jon Miltimore
“It’s incumbent upon ESG critics to advocate an alternative vision, not merely to fall in line with convention.” ~Russell Greene
“The best way to address unfair trade practices is not through blanket tariffs but by expanding trade with allies and non-hostile nations.” ~Vance Ginn
“Tax and spending reform takes more than ‘electing the right people.’ It must be politically profitable for the wrong people to make the right choices.” ~Thomas Savidge
“Sellers see fewer dollars from their sales while dealing with time-consuming headaches. Buyers see higher home prices.” ~Paul Mueller
“Inflation in the United States will end 2024 above the Fed’s target range.” ~Peter C. Earle
“The Fed should ignore the political noise and follow the data. Central bankers failed to curb inflation, but that doesn’t mean they should deliberately make the opposite mistake now.” ~Alexander W. Salter
“When ‘unity’ means government policies will substitute for choices we would make for ourselves, it means domination, even though we do not want to be dominated.” ~Gary Galles
“Money and finance are the font and essence of modernity. I honor and praise the memory of the professionals who worked in the World Trade Center.” ~Peter C. Earle
“Full reliance on a public budgeting system for providing access to medical care is a certain prescription for millions of disappointed patients.” ~James C. Capretta
“Consumers would be better served if companies could spend more time on improving their services and less on fending off litigation.” ~Noah C. Gould
“Politicians’ first-name basis… is a mercenary maneuver to gain our confidence on the cheap. It is literally a con game.” ~Donald J. Boudreaux
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