Mises Search

In his March 11 Wall Street Journal op-ed , former Federal Reserve Chairman Alan Greenspan tried to exonerate himself from the housing boom and bust. Even though more and more analysts are realizing that Greenspan’s low interest rates fueled the bubble , the ex-maestro himself uses statistics to defend his record. On these pages Frank Shostak has

[This article originally appeared on LewRockwell.com .]   Since late 2007, more and more commentators have drawn parallels between our current financial crisis and the Great Depression. Nobel laureates and presidential advisors confidently proclaim that it was Herbert Hoover’s laissez-faire penny pinching that exacerbated the Depression, and that

“It is no coincidence that Mankiw’s worldview leads him to literally propose destroying the currency in order to fix the economy.” In his April 18 New York Times op-ed , Harvard professor (and Bush adviser) Greg Mankiw calls on the Federal Reserve to promise future inflation, in order to fix the economy. Mankiw’s article beautifully illustrates

With all of the comparisons between President Obama and FDR, and especially all of the “lessons” we are told about the Great Depression, fans of the free market need a single volume to get up to speed as well as to educate their interventionist friends. I have written such a book in the newly released The Politically Incorrect Guide to the Great

Australian economist John Quiggin The Mises-Hayek theory of the business cycle — and of our recent housing bubble in particular — is gaining more and more adherents in the “real world.” To give anecdotal evidence: Five years ago, when I’d write a Mises Daily article, the fan mail would pour in from college students. But now, I get questions from

[An MP3 audio version of this article, read by Dr. Floy Lilley, is available as a free download .] In two of his recent op-eds ( here and here ) for the New York Times , Nobel laureate Paul Krugman has challenged critics of the government’s intentions to regulate carbon dioxide emissions, and he has even specifically endorsed the pending

When doing interviews for my new book on the Great Depression , a natural question comes up: will the present crisis turn out as bad as the 1930s? My standard answer is typical for an economist: “yes and no.” On the one hand, there were very specific reasons that unemployment broke 25 percent in 1933, and we don’t have those factors in place

In a previous article , I argued that Paul Krugman’s recent articles in support of government efforts to mitigate climate change — and in particular the Waxman-Markey legislation pending in Congress — were typically misleading. Specifically, Krugman’s estimate that “serious” efforts to fight climate change would cost only 2 percent of GDP by the

“Romer’s historical account only makes sense if one has an a priori commitment to the remedial role of deficit spending.” Christina Romer, chair of the Council of Economic Advisers to President Obama, recently wrote an ode to Keynesian deficit spending as a method for curing severe recessions. Yet a simple glance at the big picture shows that the

Mike Shedlock, a.k.a. “Mish” We who are advocates of sound, free-market money need to get our story straight. Are we predicting hyperinflation or massive deflation? Personally, I am much more worried about the former problem . Using a recent article by Mish , I hope to show that no one has made a convincing case for falling prices. Mish’s Argument