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Posts published in “Economics”

The True Danger of the Current Economic Crisis

Thomas Sowell explains that the true danger we face is not recession or even a depression, but the permanent expansion of government that lingers forever:…

Economic Stimulus: Timing is Everything

When I took macroeconomics in college way back in the 70’s, people actually believed in Keynesian economic theory. It was in the textbooks. One of…

Government Spending Is No Free Lunch

Robert J. Barro, an economics professor at Harvard University and a senior fellow at Stanford University’s Hoover Institution, has an excellent commentary in The Wall…

Just Say No to Stimulus

“Congress should not enact an expensive spending bill under the pretense of stimulus or recovery. We cannot spend our way to prosperity, and such an…

Minimum Wage: Helpful? Or Not?

What’s one of the barriers to advancement by minorities in the workplace? We’re told that the minimum wage law is a guarantee that workers will…

The bailout reader

The events taking place in the financial market offer an illustration of the soundness of the Austrian theory of money, banking, and credit cycles, and Mises.org, which has long warned of precisely the scenario playing itself out today, is your source not only for analysis of these events but also the economic theory that helps explain what is happening and what to do about it. There are many thousands of articles available, and also the full text of thousands of books as well as journal articles.

Big Government Is Not Stimulus

From the Center for Freedom and Prosperity Foundation. In less than four minutes, Dan Mitchell of the Cato Institute reviews the theory and history of…

Who is Responsible for Inflation?

Walter Williams explains the difference between counterfeiting and monetary policy. He explains that "inflation results from an increase in the supply of money relative to the demand for money." He asks who, then, is responsible for inflation? In the United states, who is able to create money? The answer, of course, is the Federal Reserve System, and they're creating it by the bucketful. Williams asks whether we really need our central bank, and answers his question with a history lesson. He makes a recommendation how to get our of the trouble we're in.

Applying For Food Stamps: American Duty?

A television news story from yesterday in Wichita went like this: Television news anchor: “Some may think that using food stamps is a drain on…

The New Deal in Retrospect

Many people refer to incoming president Barack Obama as the next FDR. The myth of Franklin Roosevelt — primarily that he cured the Great Depression…

New Deal Shouldn’t Be Our Template for Recovery

Can huge government spending programs rescue our economy? Amity Shlaes doesn’t think so: The New Deal is Mr. Obama’s context for the giant infrastructure plan…

Pat Buchanan Tallies the Total

The news from Washington over the past few months — $25 billion here, $700 billion there — is hard to keep track of. The amounts…

New York Times: 10 Weeks of Financial Turmoil

The New York Times has a nicely-done interactive timeline of the events since September 7, 2008, when the government took over Fannie Mae and Freddie…

The Austrian Prescription for Today

Murray N. Rothbard, in his book For a New Liberty: The Libertarian Manifesto, wrote a chapter that is highly relevant to the situation we face…

Introducing Economics in One Lesson

In This Book is So Me, Walter Block introduces a book that I’ve quoted from and used extensively: Economics in One Lesson by Henry Hazlitt.…

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