Sound Money Project
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“Economic Calculation and Monetary Stability”
“My thesis will be that monetarists, while their criticism ofthe Fed’sthesis will be that monetarists, while their criticism ofthe Fed’s expansionist history has been most welcome and has been instrumental in the struggle against inflation, do not go far enough. In particular I will stress two issues which most monetarists have ignoredinstrumental in the struggle…
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Carmen Reinhart on Debt Crises
University of Maryland economist Carmen Reinhart recently published a book with co-researcher Kennet Rogoff presenting several hundred years of data on financial crises. The title This Time Is Different alludes to the mentality that often develops during unsustainable booms–namely the belief that the old rules of valution does not apply anymore because of some technological…
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“Who got Fed money during financial crises?”
“A Senate vote Tuesday left no doubt: Congress wants to know more about what the Federal Reserve was up to when its asset portfolio grew by more than $1 trillion during the financial crisis. What companies did the Fed help, and on what terms? The Senate voted 96 to 0 for the Government Accountability Office…
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Paper Money and the shadow economy
Last night I read several articles by Hernando de Soto and a few interviews on the financial crisis. He focused on the shadowy nature of derivatives. The success of the free enterprise system is based on clear property titles and respecting freedom to exchange. He focuses on the shadowy and artificial nature of the legal…
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“Euro Crisis Tests Germany’s Ability to Lead”
“At a defining moment for the European Union, its largest country, Germany, appeared divided and its leader absent, raising significant concerns about what kind of leadership Chancellor Angela Merkel can offer as the region tries to stabilize financial markets and shore up its common currency.” Read more. “Euro Crisis Tests Germany’s Ability to Lead” Nicholas…
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Business Cycles in Powerpoint
Dr. Roger Garrison, Professor of Economics at Auburn University, has constructed a variety of useful slideshow presentations to aid students in understanding the workings of the market system. For those unfamiliar with the Austrian Business Cycle Theory of malinvestment and overconsumption, these slides are an excellent way to expand your knowledge of the basics. These…
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The Euro-Crisis: Fear Is Back in Play
“Now, fear is back in play,” said William H. Gross, managing director of Pimco, as the European crisis is sending shock waves into financial markets around the world. There is fear that the sovereign debt crisis could freeze up the euro-zone interbank market, in a replay of the credit crunch of 2007-2008. Several major European…
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Europe’s Political and Economic Crisis
Some interesting news items this week on the European crisis: A “wild week” (Financial Times) “Fears of eurozone sovereign risk contagion to banks, tighter monetary policy in China and surprise intraday selling by electronic trading systems united to deliver the worst week for global equities since the height of the financial crisis.” “For investors, the…
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Hayek’s Contribution to Monetary Theory
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop the drift toward increasing government control should concentrate their efforts on…
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Another Financial Crisis in the Making
World-wide stock markets plunged yesterday as the ongoing sovereign debt crisis in Europe is worsening. The Dow fell 1000 points–its worst ever intraday drop–before rebounding, but still ended down more than 3 percent (as did the S&P 500 and Nasdaq). Other factors played into this incident as well–a mistaken sell order from Citigroup, unfortunate consequences…
-
“Economic Calculation and Monetary Stability”
“My thesis will be that monetarists, while their criticism ofthe Fed’sthesis will be that monetarists, while their criticism ofthe Fed’s expansionist history has been most welcome and has been instrumental in the struggle against inflation, do not go far enough. In particular I will stress two issues which most monetarists have ignoredinstrumental in the struggle…
-
Carmen Reinhart on Debt Crises
University of Maryland economist Carmen Reinhart recently published a book with co-researcher Kennet Rogoff presenting several hundred years of data on financial crises. The title This Time Is Different alludes to the mentality that often develops during unsustainable booms–namely the belief that the old rules of valution does not apply anymore because of some technological…
-
“Who got Fed money during financial crises?”
“A Senate vote Tuesday left no doubt: Congress wants to know more about what the Federal Reserve was up to when its asset portfolio grew by more than $1 trillion during the financial crisis. What companies did the Fed help, and on what terms? The Senate voted 96 to 0 for the Government Accountability Office…
-
Paper Money and the shadow economy
Last night I read several articles by Hernando de Soto and a few interviews on the financial crisis. He focused on the shadowy nature of derivatives. The success of the free enterprise system is based on clear property titles and respecting freedom to exchange. He focuses on the shadowy and artificial nature of the legal…
-
“Euro Crisis Tests Germany’s Ability to Lead”
“At a defining moment for the European Union, its largest country, Germany, appeared divided and its leader absent, raising significant concerns about what kind of leadership Chancellor Angela Merkel can offer as the region tries to stabilize financial markets and shore up its common currency.” Read more. “Euro Crisis Tests Germany’s Ability to Lead” Nicholas…
-
Business Cycles in Powerpoint
Dr. Roger Garrison, Professor of Economics at Auburn University, has constructed a variety of useful slideshow presentations to aid students in understanding the workings of the market system. For those unfamiliar with the Austrian Business Cycle Theory of malinvestment and overconsumption, these slides are an excellent way to expand your knowledge of the basics. These…
-
The Euro-Crisis: Fear Is Back in Play
“Now, fear is back in play,” said William H. Gross, managing director of Pimco, as the European crisis is sending shock waves into financial markets around the world. There is fear that the sovereign debt crisis could freeze up the euro-zone interbank market, in a replay of the credit crunch of 2007-2008. Several major European…
-
Europe’s Political and Economic Crisis
Some interesting news items this week on the European crisis: A “wild week” (Financial Times) “Fears of eurozone sovereign risk contagion to banks, tighter monetary policy in China and surprise intraday selling by electronic trading systems united to deliver the worst week for global equities since the height of the financial crisis.” “For investors, the…
-
Hayek’s Contribution to Monetary Theory
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop the drift toward increasing government control should concentrate their efforts on…
-
Another Financial Crisis in the Making
World-wide stock markets plunged yesterday as the ongoing sovereign debt crisis in Europe is worsening. The Dow fell 1000 points–its worst ever intraday drop–before rebounding, but still ended down more than 3 percent (as did the S&P 500 and Nasdaq). Other factors played into this incident as well–a mistaken sell order from Citigroup, unfortunate consequences…
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