History
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“A Free-Market Monetary System”
“When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took…
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Hayek on the need to win the ideas war to bring sound money back
In the preface to one of his books, Hayek wrote that “Indeed I must admit that–although I am a convinced believer in the international gold standard–I regard the prospects of its restoration in the near future not without some concern. Nothing would be more fatal from a long run point of view than if the…
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Highlighting Hayek
Is the world finally looking to the ideas of Friedrich Hayek? It appears that the intellectual debate may be heading in a new direction. Stimulus spending has done practically nothing to reduce unemployment or spur growth; instead it has merely inflated the deficit and enraged taxpayers. Instead of falling into a vicious cycle of government…
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Keynes vs. Hayek: The Great Debate Continues
The debates raging over what policies will pull the U.S. economy out of its Great Recession replicate one that occurred during the Great Depression. Thanks to the efforts of Richard Ebeling, a professor of economics at Northwood University, we have compelling and concise documentary evidence. He has unearthed letters to the Times of London from…
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“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
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Lessons Unlearned
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an economy to be centrally planned. I have mentioned this idea in earlier posts, but it is always worth mentioning again as the lessons learned never…
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“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
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“The Role of Monetary Policy”
“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…
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“The Great Depression According to Milton Friedman”
“Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security. It was a watershed for the growth…
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“Monetary Central Planning and the State”
The Future of Freedom Foundation has an in-depth history of the debate over a monetary central authority. Dr. Richard Ebeling offers his stunning knowledge on the subject in a 40 part series entitled “Monetary Central Planning and the State”. To read his work, here is a link to the FFF’s Freedom Daily. “Monetary Central Planning…
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“A Free-Market Monetary System”
“When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government the monopoly of issuing money and handed it over to private industry, I took…
-
Hayek on the need to win the ideas war to bring sound money back
In the preface to one of his books, Hayek wrote that “Indeed I must admit that–although I am a convinced believer in the international gold standard–I regard the prospects of its restoration in the near future not without some concern. Nothing would be more fatal from a long run point of view than if the…
-
Highlighting Hayek
Is the world finally looking to the ideas of Friedrich Hayek? It appears that the intellectual debate may be heading in a new direction. Stimulus spending has done practically nothing to reduce unemployment or spur growth; instead it has merely inflated the deficit and enraged taxpayers. Instead of falling into a vicious cycle of government…
-
Keynes vs. Hayek: The Great Debate Continues
The debates raging over what policies will pull the U.S. economy out of its Great Recession replicate one that occurred during the Great Depression. Thanks to the efforts of Richard Ebeling, a professor of economics at Northwood University, we have compelling and concise documentary evidence. He has unearthed letters to the Times of London from…
-
“Liquidity Trap or Malinvested Resources?”
“Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. Commentators from Paul Krugman to Martin Wolf of the Financial Times assert we are in a “Keynesian situation”; unless government spending rescues us, we are doomed to suffer decades of economic stagnation.…
-
Lessons Unlearned
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an economy to be centrally planned. I have mentioned this idea in earlier posts, but it is always worth mentioning again as the lessons learned never…
-
“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess. The…
-
“The Role of Monetary Policy”
“There is wide agreement about the major goals of economic policy: high employment, stable prices, and rapid growth. There is less agree-ment that these goals are mutually compatible or, among those who re-gard them as incompatible, about the terms at which they can and should be substituted for one another. There is least agreement about…
-
“The Great Depression According to Milton Friedman”
“Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such monumental events as America ’s going off the gold standard and the founding of Social Security. It was a watershed for the growth…
-
“Monetary Central Planning and the State”
The Future of Freedom Foundation has an in-depth history of the debate over a monetary central authority. Dr. Richard Ebeling offers his stunning knowledge on the subject in a 40 part series entitled “Monetary Central Planning and the State”. To read his work, here is a link to the FFF’s Freedom Daily. “Monetary Central Planning…
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