Topic: History

“Some Unpleasant Monetarist Arithmetic”

– July 22, 2010

“In his presidential address to the American Economic Association (AEA), Milton Friedman (1968) warned not to expect too much from monetary policy. In particular, Friedman argued that monetary policy could not permanently influence the levels of real o …

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“A Free-Market Monetary System”

– July 14, 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 …

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Hayek on the need to win the ideas war to bring sound money back

– July 8, 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 some concern. Nothing would …

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Highlighting Hayek

– July 7, 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 inflate …

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Keynes vs. Hayek: The Great Debate Continues

– July 7, 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 com …

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“Liquidity Trap or Malinvested Resources?”

– July 7, 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. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government …

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Lessons Unlearned

– July 2, 2010

On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an economy to be centrally planned. I have mentioned this idea in earlier posts, …

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“The Use of Knowledge in Society”

– June 30, 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 o …

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“The Role of Monetary Policy”

– June 23, 2010

“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at …

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“The Great Depression According to Milton Friedman”

– June 16, 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 stand …

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“Monetary Central Planning and the State”

– May 28, 2010

The Future of Freedom Foundation has an in-depth history of the debate over a monetary central authority. Dr. Richard Ebeling offers his stunning knowledge on the subject in a 40 part series entitled “Monetary Central Planning and the State”. To read h …

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Steve Horwitz on Monetary Equilibrium Theory

– May 28, 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.   Mentary Equilibrium Theory Steve Horwitz Advanced Austrian Economics Via the Foundation …

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