Topic: History

Hayek’s Contribution to Monetary Theory

– May 8, 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, a …


“The Austrian Theory of the Trade Cycle”

– May 6, 2010

“Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle. This description is extremely flattering for us Austrian economists, and we greatly appreciate the honor thereby given us. Like all other scientific contributions, …


Let’s Talk Some Monetary Theory and the Trade Cycle

– May 5, 2010

“For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination. I have asked them to think about the relationship between Hayek’s 1928 paper on price equilibrium and movement …


Market Interest Rates Need to Tell the Truth

– May 4, 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. Market pri …


What Austrian Economics Can Tell Us about the Crisis

– April 28, 2010

The recent financial crisis has called into question several basic tenets of mainstream macroeconomics. In the words of William White, former chief economist of the Bank for International Settlements (BIS), “the prevailing paradigm of macroeconomics al …


Wolf and Krugman Discuss Austrian Economics

– April 28, 2010

Martin Wolf (Financial Times) and Paul Krugman (New York Times) discuss Austrian economics.


Lessons from the History of Financial Regulation

– April 27, 2010

Charles W. Calomiris, who is Professor of Financial Institutions at Columbia Business School and a visiting scholar at the American Enterprise Institute, has recently published a paper on the lessons that can be drawn from the history of financial regu …


In a Culture of Excess, the Fat Cats will Rule

– April 23, 2010

“Free market economists are not necessarily defenders of business. Crony capitalism has a long history. Mercantilism was a form of crony capitalism, and was the main target of Adam Smith’s critical abilities. And while modern Smithians understand how i …


“Academia’s War Against Free Market Money”

– April 22, 2010

“In a confrontational and much-needed article, Prof. William Anderson launched a counter-attack against mainstream academic economists’ refusal to consider seriously the Austrian School’s theory of money. Despite the fact that Ludwig vo …


Mark Skousen – The Making of Modern Economics

– April 15, 2010

Good introductory text to the intellectual history of economics


Dr. Richard Ebeling to talk at GMU!

– April 2, 2010

Our friends at the GMU Economics Society & the Future of Freedom Foundation invite you to the last installment of the Economic Liberty Lecture Series of this year with Dr. Richard Ebeling. Dr. Ebeling will be speaking on “America’s New Road to Serf …


“Denationalisation of Money”

– January 15, 2010

“In my despair about the hopelessness of finidng a politically feasible solution to what is technically the simplist possible problem, namely to stop inflation, I threw out in a lecture delivered about a year ago a somewhat startling suggestion, the fu …