Contrary to the assertions of these pundits, an economy does not need mountains of debt — whether government or private — in order to grow. Corporations can still raise needed financing through issuing equity. There are pros and cons to debt financing, but it isn't necessary for a strong economy.
Austrian economists have long recognized that the economy is far more complex than simple models capture.
From Man, Economy, and State, narrated by Jeff Riggenbach.
Presented in Vienna, Austria, on 20 September 2011. Includes an introduction by Douglas E. French.
We now see, thanks to Rothbard's insights, that the Hoover-Roosevelt period was really a continuum.
The government has tried to further manipulate the economy to compensate for the adverse effects of its printing of money.
The Augustan boom was partly the result of a heavy spending program.
I say to Judge Posner, look to Hayek on the business cycle, the way you did on law and economics.
The Austrian School has always had a rich conception of the structure of production.
In his speech at Jackson Hole, Wyoming, the Fed chairman disappointed most pundits. He did not promise another massive infusion of fake money, i.e., QE3. I suspect that a strengthening in bank lending is an important factor behind the Fed's decision to postpone it.
