Business Cycles

We should not be fooled into believing that the economy will crumble without high government spending and loose credit organization.

But unlike today, the deflationists and hard-money men had the upper hand. As a result, the depression ended rather quickly (by 1821) when confidence in currency was restored and currency once again was redeemable in specie.

Mr. Calandro not only strives to teach a method to avoid the delusion, but to attempt to profit from the resultant cleaning out when the bubble bursts.

The students' interest in the current economic crisis has served as a source of motivation for them to learn the subject well.

If Washington had done nothing at all after 9/11/01, either in domestic or foreign policy, the world would be much more peaceful and prosperous today.

"Only savings can allow for sustainable economic growth."

In real life, Keynesianism doesn't work; the government bails out the bankers and then depressions last a long time.

"Real GDP has nothing to do with the real world."

The entire Keynesian edifice rests on a central paradox: impeding the central mechanism of the free market will restore prosperity.

Popular rhetoric notwithstanding, government cannot be run like a business.