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Power and Privilege: Labor Unions in America
Publication
Author: Morgan O. Reynolds
Online Publish Date:
Category: Legal System
This book reconsiders the economic role of labor unions by challenging fundamental assumptions. Anyone who seeks a comprehensive treatment of the effects of labor unions, as well as the legal and economic reasons for those effects, would do well to read this book. Reynolds shows that unions prevent women and minorities from working in highly
An Economic Analysis of the Norris-LaGuardia Act, the Wagner Act, and the Labor Representation Industry
Journal of Libertarian Studies
Author: Morgan O. Reynolds
Online Publish Date:
Category: Political Theory, Production Theory, Legal System
Economists have been relatively silent about the legislation from the 1930’s which supports unionism and collective bargaining in the United States. A failure to apply economic analysis to the Norris-LaGuardia and Wagner acts has allowed a consensus about this legislation to develop among labor writers, basically by default. Volume 6, Number 3
Interest Rates: Price of Capital?
Mises Wire
Author: Morgan O. Reynolds
Online Publish Date:
“Interest rates are the price of capital. As profits increase, there is going to be a need for a capital-rationing process,” Treasury Secretary John Snow told a British newspaper, as quoted in the  Washington Post . “I’d be frustrated and concerned if there were not some upward movement” in rates. Snow is mostly all wet.  Interest rates are the
The Impossibility of Socialist Economy, or A Cat Cannot Swim the Atlantic Ocean
Quarterly Journal of Austrian Economics
Author: Morgan O. Reynolds
Online Publish Date:
Category: Calculation and Knowledge
Volume 1, No. 2 (Summer 1998)   To decide whether an undertaking is sound we must calculate carefully.     —Ludwig von Mises, Socialism The socialist calculation debate has been prolonged, contentious, and often confusing (Vaughn 1980; Yeager 1997). Few issues in economics are more important, yet our understanding remains muddled, judging by the
The Poverty of Modern Macroeconomic Theory and Power of Austrian Business Cycle Theory
Quarterly Journal of Austrian Economics
Author: Morgan O. Reynolds
Online Publish Date:
Category: Business Cycles, Other Schools of Thought, Booms and Busts
Volume 13, Number 3 (Fall 2010)   This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory ( ABCT ). Mainstream economists remain lost in the Keynesian jungle, and economists in the vein of Irving Fisher, Milton Friedman and Martin  Feldstein  have not helped. The
Review of Econospinning: How to Read Between the Lines When the Media Manipulate the Numbers. By Gene Epstein
Quarterly Journal of Austrian Economics
Author: Morgan O. Reynolds
Online Publish Date:
Category: Media and Culture
  Volume 10, No. 3 (Fall 2007)   Economists are familiar with the cliche’ “lies, demand lies, and statistics,” which puts statistics at the top of the pyramid of lies. ESPN sports radio personality Colin Cowherd, on the other hand, insists, “People lie, numbers don’t.” Since people create the numbers the line between liars and bad numbers may be
Labor and the Austrian School
Mises Daily
Author: Morgan O. Reynolds
Online Publish Date:
Category: Austrian Economics Overview, Monetary Theory, Money and Banking
[A shorter version of this interview will appear in the Summer 2003 issue of the Austrian Economics Newsletter .   Its early release is due to the timeliness of its content.] AEN : What was it like to go from theory to practice so suddenly? Reynolds : Highly educational. I went from a professor of economics, with a career-long specialization in