Booms and Busts

The correct road to recovery is the path to a "free and prosperous commonwealth."

Brad DeLong and Paul Krugman continue to mock the Austrian explanation for the business cycle, but their ridicule is based on their own deficient model of the economy's capital structure.

Contrary to Greenspan, we can conclude that it is not long-term rates as such that fueled the bubble but the loose monetary policy of the Fed.

"If there is any hope for our economic future, we must come to a sound understanding of what got us here."

Unfortunately Obama's Road to Serfdom is not fiction and no laughing matter.

Schumpeter went on to remind the audience that the heart of the capitalist process was its endless dynamism, which was the opposite of Keynesian stagnationism.

If it doesn't work to boost your professional life, you can always count on looking fantastic when you march on the White House and protest against its occupants for robbing you blind in the name of saving you.

The inflationary environment causes savers to divert savings from paper assets to the safer harbor of hard assets such as precious metals, commodities, or even goods used for daily use.

"The single most important book on the Great Depression is that by Murray Rothbard." – David Gordon

Interviewed by the Arlington (New York) High School Chapter of the Young Americans for Liberty, 16 February 2009.