Temporary Employment Doesn’t Have to be a Bad Deal for Workers

– January 11, 2018

Is the American economy’s creation of fewer traditional full-time jobs a sign of weakness, or just changing times?


The Euro’s Fetters?

– July 9, 2012

Is the Euro harder to escape than the Gold Standard? Spanish economist Jesús Huerta de Soto just published a new article entitled “An Austrian Defense of the Euro.” In this paper Huerta de Soto develops an argument based on the lectures given by Nobel …


Jobs, and Obama’s Common Sense

– May 11, 2012

Reuters reports that employers cut back on hiring, again, in the month of April. Certainly this is a very important outcome in an election year. The perceived health of the economy can play in favor or against the candidate – in the opposite direction. …


“The Return of Stagflation” – WSJ

– May 24, 2011

“‘Stagflation” is an ugly word for an ugly situation: persistent high inflation combined with high unemployment and stagnant demand in a country’s economy. The term was coined by British politician Iain Mcleod in a speech to Parliament in 1965. We have …


“An Austrian Rehabilitation of the Phillips Curve” – Cato Journal

– May 19, 2011

“William Niskanen (2002) estimated a Phillips curve for the United States using annual 1960–2000 data. By adding one-year lagged terms in unemployment and infl ation, he was able to show that this familiar equation is misspecified. In his improved specifi …


Inflation, Unemployment, and Monetary Policy – Solow and Taylor

– March 30, 2011

“We have learned much about the unemployment-inflation trade-off and about monetary policy during the last 25 years. Both economic research – especially the research surrounding the rational expectations revolution of the 1970s – and historical experie …


“Detached From Reality” – FreedomWorks

– March 16, 2011

“By 2020, public debt in the United States is set to reach 90 percent of GDP, a line that many economists demarcate as when accumulated debt pushes an economy to the precipice of fiscal demise. Entitlement spending remains on autopilot and some federal …


“How Long Can the Fed Continue to Downplay Inflation?” – Daily Finance

– March 15, 2011

“When the Federal Reserve’s interest-rate-setting committee meets on Tuesday to consider whether to change its monetary policy, it will likely be forced to alter the way it views the economy. It will probably rewrite its dismissal assessment of unemplo …


Can Monetary Policy Really Create Jobs? – Vedder

– February 15, 2011

“Variations in unemployment rates can be explained by changes in the productivity-adjusted real wages received by labor. Other things equal, rises in productivity or prices tend to have the impact of lowering unemployment, as does falling money wages. …


“Ben Bernanke’s ’70s Show” — WSJ

– February 7, 2011

“In the 1970s, despite rising inflation, members of the Federal Reserve’s policy committee repeatedly chose to lower interest rates to reduce unemployment. Their Phillips Curve models, which charted an inverse relationship between unemployment and infl …


“Bernanke Issues Warnings, Accepts No Blame” – New American

– February 4, 2011

“Federal Reserve Chairman Ben Bernanke’s address to the National Press Club on Thursday was a remarkable blend of hubris, claimed innocence, and warnings. His opening remarks were condescending and patronizing to the journalists assembled: Contemporary …