7 hours ago by Monty Pelerin

Image by m.a.r.k via Flickr Econ 301 are for Economics geeks only. The following post appeared on the website Taking Hayek Seriously. It deals with the sub-set of economics known as macroeconomics and puts in more technical terms why anything approaching top-down approach (primarily Monetarism and K ...

Monty Pelerins World - economicnoise.com · 1 reference

8 hours ago by Monty Pelerin

In a Financial Times piece, Edmund Phelps, Nobel laureate in Economics in 2006 states: The gravest error of the phony debate between two non-starters is that their superficial and mechanical character – the clockwork of the neoclassical system and the hydraulics of the Keynesian one – operate to dis ...

Monty Pelerins World - economicnoise.com · 1 reference

9 hours ago by Tom Church

From Arnold Kling writing at The American: Pump-priming and stimulus policies are a good fit for a manufacturing economy with homogeneous labor affected by temporary layoffs. They are not such a good fit for a post-industrial economy with an educated labor force facing permanent structural changes. ...

Red White Waves and Blue - rwwb.wordpress.com

10 hours ago by culturalcapitalism

ron paul has been promoting ludwig von mises’ austrian school of economics for 30 years….but only now are people paying attention…even wsj picking it up: excerpt: We all know what happened next. Pretty much right out of Mises’s script, overleveraged banks (including Kreditanstalt) collapsed, busines ...

cultural capitalism - culturalcapitalism.com · 4 references

1 day ago by Jeff Harding

By Jeff Harding . In order to understand the present state of the U.S. economy you have to understand that there are two things happening at once. For the most part they are in conflict with each other, in that one track can negatively impact the other. Lest I be accused of putting out conflicting i ...

The Daily Capitalist - dailycapitalist.com · Rank: 11,017 · 24 references

2 days ago by Bevan Sabo

This blog is very critical of Keynesian economics, due to the fact that it is wrong. However, we’re not so critical of John Maynard Keynes. Thankfully, we’re not alone in our opinions: Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which tu ...

Free Market Mojo - freemarketmojo.wordpress.com · Rank: 29,539 · 24 references

2 days ago by Bevan Sabo

While I believe Keynesian economics to be both flawed and immoral, he gives a very chilling account of how inflation can destroy a capitalist system. Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, g ...

Free Market Mojo - freemarketmojo.wordpress.com · Rank: 29,539 · 24 references

3 days ago by culturalcapitalism

continuing with my atlas shrugged theme…here’s ‘director of office of the budget’ for the obama white house….this guy is right out of atlas shrugged…”the economy doesn’t like us right now and we need to somehow make the economy happy again”….. also found out that his mentor is robert rubin…one of my ...

cultural capitalism - culturalcapitalism.com · 4 references

4 days ago by Bevan Sabo

Jeffrey Miron and Russ Roberts tackle the question of whether or not the stimulus worked. Their answer? Not quite. Miron: Research finds more evidence for the efficacy of monetary as opposed to fiscal policy in ending recessions. And the studies on fiscal stimulus have shown more impact from tax cut ...

Free Market Mojo - freemarketmojo.wordpress.com · Rank: 29,539 · 24 references

5 days ago by Monty Pelerin

Ludwig_von_Mises Frederic Bastiat was probably the most influential economic essayist ever. He died in 1850. His “broken window fallacy” is probably the single most important principle in economics. It anticipated Keynesian economics and vitiated most of it before Keynes was born. Still today, one n ...

Monty Pelerins World - economicnoise.com · 1 reference