I just received my copy of Common Sense Economics, by L. Albert Hahn, from the Ludwig von Mises Institute. I’ve only skimmed it, but it seems to be a more complete and rigorous version of Henry Hazlitt’s Economics in One Lesson. While the latter focuses on the very basic mercantilist economic fallacies which pervade modern [...]
Posts Tagged ‘Economics’
The Pretence of Knowledge
Hayek’s Nobel lecture on 11 December 1974, on the pretence of knowledge.
Austrian Religion
A comment on the continuing debate on the Austrian trade cycle theory as the one-and-only explanation behind the business cycle.
Richard Cantillon Project
A project to work on Richard Cantillon’s wikipedia article has begun. I am looking for references to major works on Richard Cantillon.
Truth Behind Unemployment
“Good news” from the Obama administration. Unemployment fell from 10.2% to 10%! According to the Wall Street Journal, unemployment fell despite the fact that there was a net loss of eleven thousand (11,000) jobs in November. Only in modern, mainstream economics can there be a net loss in employment, and yet a decrease in unemployment. [...]
Neither Keynes nor Friedman
The Federal Reserve did try to bailout banks during the Great Depression, Hoover did outspend every prior president in an attempt to stimulate the economy and no recession is caused by a drop in aggregate demand. These are Keynesian myths.
Krugman on Keynes, Government and Demand
Krugman continues to show his ignorance on capital-based macroeconomics by erecting a straw man and therefore attempting to disqualify Say’s Law and the “Treasury View”. The only thing he is doing is make his own position more untenable.
The Gift of Knowledge: Cato University 2009
As you may have noticed, there have been less articles published this week on this blog than there should have been. I was admitted as a scholarship student to Cato University 2009, which focuses on Economic Crisis, War and the State. The seminar ends on Friday morning, but I have already gotten more out of my experience than I could have hoped for.
Krugman and Austrian economics
Comment to Dr. Paul Krugman, in response to his snipe at Austrian economists.