I was recently interviewed by Thomas Ressler for the industry publication Inside MBS @ ABS on the recent change in the Fed’s tapering of its Quantitative Easy program: Economist Mark Thornton, a senior fellow at the Ludwig von Mises Institute, an economic think tank in Auburn, AL, said he was “a little bit surprised that the Fed upped the ante on
Over at the Global Economic Intersection my lecture on the economics of the war on drugs is the documentary of the week. This is fitting given the horrible news of Philip Seymour Hoffman dying this week of an apparent drug overdose .
E.J. Dionne admits here that the Austrian school is winning. The theories of the Austrian school of economics are leading to “gridlock” in Washington DC. Well, that is a good first step. Unfortunately, the column is filled with underhanded attacks on the Austrians and more misguided thinking than I care to report. HT: RW &
Dr. Mark Thornton, John O’Donnell and Merlin Rothfeld take a look at the current market situation (January 24th) and offer suggestions as to where we may be headed going forward. The trio also take a look at the gloomy unemployment scene in the US, and solutions to getting jobs back in
Here is an amazing video in which Hayek is interviewed about his knowledge of Keynes. He makes very strong claims that Keynes was blissfully ignorant of economic theory, monetary theory, economic history, and the history of economic thought. Unlike some other interviews of Hayek, the audio is clear and this clip is only 5 minutes
How many economists does it take to change a light bulb? None. When the one they used in graduate school goes out, they sit in the dark . Robert Samuelson writes here about how mainstream economists have done such a poor job of forecasting the economic crisis and that they have been consistently overestimating economic growth. Keynesian economics
So much for the use the mainstream economics’s dynamic stochastic general equilibrium models. This post from the Sound Money Institute points out that financial firms pay little attention to mainstream economics except in their attempts to predict the behavior of central banks. They note: This should come as no surprise to students of the Austrian
Here is my recent interview on Power Trading Radio with John O’Donnell and Merlin Rothfeld. We discuss, among other things, for a look at the growing currency war as well as the battle for natural resources around the world. They regularly interview Austrian economists on Friday afternoons at 6:00 pm Eastern and give away a gold coin to listeners.
Pete Boettke at Coordination Problem highlights the excellent work by Ben Powell in the Misesian tradition (links added). Ben Powell ‘s Out of Poverty , is a classic example of praxeological reasoning and the purpose of political economy in the hands of a skilled thinker influenced by Mises’s approach. Listen to his discussion of the book, he
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.
