The Wall Street Journal takes note of Paul Krugman’s attack on “Austrian/Ron Paul types” (1/13/13) page C1, “Ahead of the Tape”). We have all heard of the boy who cried wolf. A similar charge is being leveled against pundits who warned of runaway inflation as a result of the Federal Reserve’s extraordinary stimulus. Economist Paul Krugman, for
In today’s Wall Street Journal “Most Americans recognize the need to reduce government spending to rein in the national debt. But there is another reason to cut government spending for specific programs: If more people have less incentive to stay out of the work force, they might seek jobs and help spur economic
Dallas Federal Reserve President Richard Fisher in a recent speech called for an end of the “too big to fail doctrine.” He identified the dozen largest US banks (which represent almost 70% of all banking assets) as a continuing threat to the American public. He basically admitted that all the layers of bank regulation, including Dodd-Frank, are
A very good discussion on why money matters: “ Fed’s policies expose mainstream fallacies” Dr Frank Shostak, at: http://www.cobdencentre.org/2013/01/feds-policies-expose-mainstream-fallacies/ . The conclusion: Contrary to mainstream thinking the aggressive policies of the Fed have highlighted the destructive nature of loose monetary policy – hence
NBER has just published a paper, “The Golden Dilemma.” by Claude B. Erb and Campbell R. Harvey. The paper examines several issues regarding the use of gold in financial portfolios. It finds that many of the arguments for owning gold are questionable. For example they find that gold is not a good inflation hedge in the short run (several years)
So says the President of Iceland. He also said that the financial sector, even a successful one, is like a parasite on the economy drawing out vital resources for the innovative productive
The topic of deflation has risen to new heights in Japan because the new Prime Minister has promised to fight deflation and to set new minimum inflation targets for the Bank of Japan. In this article Frank Shostak shows why Japan should not try to fight inflation. Instead they should fight their apoplithorsismosphobia
Abstract: Industrial policies (IPs) include such varying practices as production subsidies, export subsidies, and import protection, and are commonly used by countries to promote targeted sectors. However, such policies can have significant impacts on sectors other than those targeted by the IPs, particularly when the target sector produces goods
In today’s column on “Money, Wealth, and Models ,” Paul Krugman lashes out “the Austrianish horde” for being critical of his view “that you can create real wealth by printing more pieces of paper.” He is addressing Hans Hoppe’s critique of Krugman that as a society you cannot turn pieces of paper into wealth, but not by name. Krugman defends
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.
