Capital and Interest Theory
The Theory of Interest
Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.
The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Krugman Is Wrong (Again): Artificially Low Interest Rates Created Bubbles
Paul Krugman denies that the Fed artificially suppressed interest rates. As usual, Krugman neither understands interest rates nor the effects of inflationary policies.
The Inverted Yield Curve and Recession
Economists have failed to explain the mechanism by which an inverted yield curve signals an impending recession. But the Misesian explanation of the business cycle quite easily explains the pattern we observe in interest rates.
Contrary to What Some Economists Claim, the Fed Can’t Give the Economy a “Neutral” Rate of Interest
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
Capital Goods and Capital
The concept of capital is the fundamental concept of economic calculation, the foremost mental tool of the conduct of affairs in the market economy. Its correlative is the concept of income.
What Determines Interest Rates? Comparing Mainstream Economics to the Austrian School
The typical mainstream economic view of interest rates ignores an important factor: individual time preferences.
How the Fed’s Tampering with the Policy Rate Affects the Yield Curve
Thanks to the Fed's monetary gyrations, we are seeing the yield curve acting abnormally. However, one cannot get something from nothing and market forces ultimately will frustrate the Fed's designs.
Inflation and Price Control
"Under socialism production is entirely directed by the orders of the central board. The whole nation is an 'industrial army' and each citizen is bound to obey his superior's orders."