Donations
Please consider donating to help keep this blog running.
- Economic Thought on Facebook
Category Archives: Comments
Krugman on Hayek (Again)
A comment on Krugman’s blog concerning Hayek and Keynes’s “General Theory”. Continue reading
Posted in Comments
8 Comments
Ownership of Labor
Who owns my labor, if not myself? In his concept of ownership, Karl Marx makes the mistake of not accepting the contract between employee and employer as a transfer of ownership. The employee is selling his labor for a certain wage. Before the labor is sold, though, it seems to me that the individual owns his labor (and thus is the only reason he can legitimately sell it). Continue reading
Keynes and the Bancor
Keynes’s bancor was an attempt to regulate all international trade, to eliminate trade deficits and surpluses. Continue reading
Posted in Comments, History, Theory
Tagged bancor, clearing, clearinghouse, international, Keynes, unit
Leave a comment
Comment on Austrian Historicism
Two things Austrians must remember concerning the Great Depression and the Depression of 1920 are that monetary policy today is much different and there was no liquidity trap in 1920. Continue reading
Correction to Article on Venezuela
Correction to my piece on Venezuela. Continue reading
Solutions that Hold Water
Only the free market, through its unfettered price mechanism, can distribute resources without creating a shortage. This goes for water as it does for any other scarce commodity. Continue reading
Leviathan Contra Leviathan
The New York Times argues that it was only thanks to government that slavery was abolished. Let’s remember that slavery was a government institution. Continue reading
Apathetic BP?
BP’s profit motive is the greatest incentive to stopping this oil spill. Continue reading
Generally Dead Motors
General Motors will not be successful without more fundamental changes to its structure, including looking at union-employer relations. Continue reading
Posted in Comments
Tagged Bailout, debt, General, loss, Motors, profit, subsidization
Leave a comment
Comments on Unemployment
Some responses to the Horwitz-Garrison thesis that strong heterogeneity of labor makes direct public employment difficult, and some more on Kling’s recalculation problem. Continue reading →