History of Economic Thought

Tuesday, October 19th, 2010
"Money is non-neutral, and the capital structure in an economy consists of combination of heterogeneous capital goods that multiple-specific uses.
Monday, October 11th, 2010
"No monetary system, including gold, is perfect. But the evidence is that the gold standard is a recipe for lower-than-predicted federal interest rates (quelling the coming fiscal crisis); lower corporate bond rates (jobs); and lower mortgage rates (relief to millions of upside down homeowners).
Monday, September 20th, 2010
"The intentionally limited task to which I intend to devote myself in the following pages is that of writing a critical history of the theoretical problem of interest.
Monday, August 30th, 2010
"To these free-market economists, government intrusion ultimately sows the seeds of the next crisis. It hampers what one famous Austrian, Joseph Schumpeter, called the process of "creative destruction."
Thursday, August 12th, 2010
"The Austrian theory is not a theory of recessions per se; it is a theory of the unsustainable boom. As such, it has a much stronger link to the underlying microeconomics than does much of today’s mainstream theorizing.
Friday, July 30th, 2010
"With the recent financial crisis macroeconomic issues are receiving more and more attention. Inflation is one of those issues. Many claim inflation to be the cause of the crisis; which has even given the Austrian business cycle theory attention from the media.
Friday, July 30th, 2010
"Milton Friedman discusses his economic ideas with Gary S. Becker. Recipient of the 1976 Nobel Memorial Prize in Economics, Milton Friedman has long been recognized as one of our most important economic thinkers, and a leader of the Chicago school of monetary economics.
Thursday, July 29th, 2010
"For me, the most convincing has been the most radical number 70, by the Nobel Prize -winner Professor F. A. Hayek, which advocated the Denationalization of Money"
Thursday, July 22nd, 2010
"In his presidential address to the American Economic Association (AEA), Milton Friedman (1968) warned not to expect too much from monetary policy.
Wednesday, July 14th, 2010
"When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took it o
Wednesday, July 7th, 2010
In the preface to one of his books, Hayek wrote that "Indeed I must admit that--although I am a convinced believer in the international gold standard--I regard the prospects of its restoration in the near future not without som
Wednesday, July 7th, 2010
Is the world finally looking to the ideas of Friedrich Hayek? It appears that the intellectual debate may be heading in a new direction. Stimulus spending has done practically nothing to reduce unemployment or spur growth; instead it has merely inflated the deficit and enraged taxpayers.