History of Economic Thought

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.
Wednesday, July 7th, 2010
The debates raging over what policies will pull the U.S. economy out of its Great Recession replicate one that occurred during the Great Depression. Thanks to the efforts of Richard Ebeling, a professor of economics at Northwood University, we have compelling and concise documentary evidence.
Wednesday, July 7th, 2010
"Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess.
Friday, July 2nd, 2010
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”.
Wednesday, June 30th, 2010
"The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory k
Wednesday, June 23rd, 2010
"There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth.
Wednesday, June 16th, 2010
"Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security.
Friday, May 28th, 2010
"Professor Steve Horwitz gives a talk on Capital and Its Structure to the student of the Advanced Austrian Economics seminar in Irvington, New York." Listen here.
Thursday, May 20th, 2010
"In a recent blog post, Peter Boettke argues that in reading F.A. Hayek it is important to distinguish between Hayek and Hayekianism.
Wednesday, May 19th, 2010
"Everything that is done by a government against the purchasing power of the monetary unit is, under present conditions, done against the middle classes and the working classes of the population. Only these people don't know it. And this is the tragedy.
Monday, May 10th, 2010
Dr. Roger Garrison, Professor of Economics at Auburn University, has constructed a variety of useful slideshow presentations to aid students in understanding the workings of the market system.
Saturday, May 8th, 2010
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop t
Thursday, May 6th, 2010
"Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle.
Wednesday, May 5th, 2010
"For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination.
Tuesday, May 4th, 2010
"In the free market, interest rates perform the same functions as all other prices: to provide information to market participants; to serve as an incentive mechanism for buyers and sellers; and to bring market supply and demand into balance.
Wednesday, April 28th, 2010
The recent financial crisis has called into question several basic tenets of mainstream macroeconomics.