Bob Higgs provides a nice tribute to economic historian Robert Fogel, a leading economic historian and cliometrician. In 1995 Higgs’s “Austrian Economics and the New Economic History” in Austrian Economics Newsletter vol. 15, no.1, (available here pages 2 and 3) offered a well thought out assessment of what cliometrics might offer “of value to the
Robert Higgs has another must read in his “ Etceteras Real Gross Domestic Private Product, 2000-2012 ” in the most recent Independent Review. He provides good arguments on why government product should be (and perhaps almost was) excluded from income and product accounts. He then builds a measure of Real Gross Domestic Private Product for the
Shawn Ritenour, author of Foundations of Economics , channels Mises to dispute the “sad narratives of the financial meltdown of 2008 and its aftermath .. that it was and remains the result of unbridled capitalism . Too much freedom spoiled the economic broth” is his excellent commentary “ Is the Economic Crisis an Indictment of Capitalism? ” His
This quotation appeared on my Facebook page (lifted from Robert Higgs and sourced as Psalm 26:11) and is dedicated to Keynesians of all stripes: “As a dog returneth to his vomit, so a fool returneth to his folly.” Psalm 26:11. Alan Blinder returneth with his July 8, 2013 Wall Street Journal editorial “ The Economy Needs More Spending Now: U.S.
Bill McNabb, CEO of the Vanguard Group, in today’s WSJ op ed Uncertainty Is the Enemy of Recovery discusses Vanguard’s estimate that policy uncertainty has created a $261 billion drag on the U.S. economy. While it is good to see policy uncertainty highlighted, the more relevant concept is Robert Higgs’s regime uncertainty as discussed in these
Joseph Salerno’s recent post on The Libertarian Case for Corporate Social Responsibility reminded me of a similar argument about a free market based ethic for business by Richard W. Wilcke in the Independent Review (2004). While I served as dean of business at Metro State, we invited Richard in for a presentation of his thoughts on an anti-crony
For those following Bitcoin, this interview with Gavin Andresen, the 46-year-old lead software developer for the Bitcoin project in today’s Wall Street Journal should be of interest. Bitcoin vs. Ben Bernanke “The chief scientist for the digital currency talks about its appeal—and pitfalls—in a world of fiat money.” Highlights: As for the upside,
Reinhart-Rogoff Revisited The recent release of GDP data continues to show a weak recovery which many who contribute here have attributed regime uncertainty and inappropriate policy . The Wall Street Journal (“ A Jobs Fillip ”) comes to a similar conclusion: Left to its own devices, the U.S. economy will grow as individuals and businesses try to
John B. Taylor has asked What to Call This Very Slow Recovery? In a post that pre-dates the Taylor question, I had suggested the Bush-Obama Great Stagnation . This suggestion was based on discussions in Mises Daily referring to 1929-post WWI as the Hoover-Roosevelt Great Depression and an excellent QJAE paper written circa 2009 by Mark Thornton
Bubbles, Booms, and Busts: What Have We Learned? The always insightful and provocative George Selgin has some excellent commentary at Free Banking on the role of central banks in creating booms and busts. Selgin’s commentary and cautions to both monetarists and Austrians are excellent follow-ups to increased awareness of the importance of Austrian
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
