background preloader

Economic Thought

Facebook Twitter

This collection is various readings on economic theory with a probable emphasis on the Austrian School.

The Yield Curve Inverted! - MoneyBeat. Dubya's Double Dip? If the story of the current U.S. economy were made into a movie, it would look something like ''55 Days at Peking.'' A ragtag group of ordinary people -- America's consumers -- is besieged by a rampaging horde, the forces of recession.

Dubya's Double Dip?

To everyone's surprise, they have held their ground. But they can't hold out forever. Will the rescue force -- resurgent business investment -- get there in time? The screenplay for that kind of movie always ratchets up the tension. But predictions of an imminent recovery in business investment keep turning out to be premature. Sanchez-your-life-your-work-kindle. Milton Friedman: "I Think the Austrian Business-Cycle Theory Has Done the World a Great Deal of Harm" This is from a 1998 interview with Milton Friedman: EPSTEIN You were acquainted with the Austrian economist Friedrich Hayek and also are familiar with the work of Ludwig von Mises and his American disciple, Murray Rothbard.

Milton Friedman: "I Think the Austrian Business-Cycle Theory Has Done the World a Great Deal of Harm"

When you were talking about bad investments, you were alluding to Austrian business-cycle theory. A certain concept that has pretty much gone into our parlance and understanding fits in with what you said about what happened in Asia. There can be times and conditions in which the stage can be set for malinvestment that leads to recession.

FRIEDMAN That is a very general statement that has very little content. List of Austrian School economists - Wikipedia. This is a list of notable economists aligned with the Austrian School who are sometimes colloquially called "the Austrians".

List of Austrian School economists - Wikipedia

This designation applies even though few hold Austrian citizenship; moreover, not all economists from Austria subscribe to the ideas of the Austrian School. Austrian economists[edit] Related lists[edit] References[edit] Further reading[edit] Holcombe, Randall G., ed. (1999). Home The Future of Freedom Foundation. An Introduction to Austrian Economics and the Free Society – Voices of Liberty. April 6, 2015—In this episode of The Libertarian Angle, we learn the origins of Austrian economics.

An Introduction to Austrian Economics and the Free Society – Voices of Liberty

President of the Future of Freedom Foundation, Jacob Hornberger, talks with Richard Ebeling, economics professor at The Citadel in Charleston, South Carolina. Ebeling was Hornberger’s tutor many years ago. Like what you’re reading? Keep going by contributing to the cause of freedom. A Beginner’s Guide to Austrian Economics – Voices of Liberty. “Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others.

A Beginner’s Guide to Austrian Economics – Voices of Liberty

And no one can find a safe way out for himself if society is sweeping towards destruction. Therefore everyone, in his own interests, must thrust himself vigorously into the intellectual battle. None can stand aside with unconcern; the interests of everyone hang on the result. Whether he chooses or not, every man is drawn into the great historical struggle, the decisive battle into which our epoch has plunged us.” – Ludwig von Mises December 16, 2014—Of course, Mises above is addressing the need for “everyone” to understand basic, sound economics. Here is a beginner’s guide in which we’ll briefly examine the basic principles and answer the basic questions about Austrian economics. It’s important to note that Austrians sound a minority voice in economics and are widely marginalized by mainstream Keynesian economists in academia and media.

News - Page 1. Growth Theory As It Ought to Be: Comments on Kurz and Salvadori's Two Survey Papers on Old and New Growth Theory. Is there a direct relationship between government expenditures and economic growth? - ResearchGate. The question whether or not government expansion causes economic growth has divided policy makers into two distinctive theoretical camps, as proponents of either big government or small government.

Is there a direct relationship between government expenditures and economic growth? - ResearchGate

Economic theory would suggest that on some occasions lower levels of government spending would enhance economic growth while on other occasions higher levels of government spending would be more desirable. From an empirical perspective the evidence generated becomes more confusing as a number of studies favor one or the other approach. The substantial growth of the size of government expenditures in both the developed and developing nations since World War II, and its effect(s) on long-run economic growth (or vice versa), has spawned a vast literature that offers diverse attempts to explain the observed phenomenon. On the one hand, public finance studies have been directed towards identifying the principal causes of public sector growth.

Friedrich Hayek - Wikipedia. Friedrich Hayek CH (German: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪ̯ɛk]; 8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently referred to as F.

Friedrich Hayek - Wikipedia

A. Hayek, was an Austrian and British economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena. "[1] Hayek was a major social theorist and political philosopher of the twentieth century,[2][3] and his account of how changing prices communicate information which enables individuals to co-ordinate their plans is widely regarded as an important achievement in economics,[4] leading to his Nobel Prize.

Conservative Policy Research and Analysis. The Cato Institute. Molinari Institute. Mises Institute. Foundation for Economic Education.