Booms and Busts

The success of Japan after WWII was due entirely to low taxes, an appreciating currency, and a very high personal savings rate. That all changed when the bubble was born in the late 1980s.

For nearly a hundred years, economists have been groping for an explanation for the business cycle, writes Murray Rothbard, while overlooking the Austrian explanation.

Contractionary monetary policy may be necessary to slow the rise of inflation, but the recessionary results of this remind us why the Fed's inflationary policy is so dangerous.

Economic depressions are not caused by a strong decline in the money stock, but by a depleted stock of real savings.

Contractionary monetary policy may be necessary to slow the rise of inflation, but the recessionary results of this remind us why the Fed's inflationary policy is so dangerous.

Tulipmania—the famous bubble in tulip prices in the Dutch Republic—cannot be explained by studying the "fundamentals of the tulip market." The answer lies in manipulation of the financial sector. 

In 1929, what remained of laissez-faire policy in America was brushed aside. Led by President Hoover, the government embarked on what has accurately been called the "Hoover New Deal."

Tho and Jonathan discuss the supposedly transitory aspect of inflation, the overshadowing of economics by central planning, Keynesian economics, and more.

In spite of what they say, governments will do nothing about inflation. Even though "money printing" is the real cause of this, governments will just keep blaming red herrings like supply chain problems.

In spite of what they say, governments will do nothing about inflation. Even though "money printing" is the real cause of this, governments will just keep blaming red herrings like supply chain problems.