Donations
Please consider donating to help keep this blog running.
- Economic Thought on Facebook
Tag Archives: Great
Thoughts on Regime Uncertainty
Robert Higgs’s uncertainty theory does not explain why the Great Depression occurred, only why it lasted for so long. Continue reading
The Great Depression and Unemployment
I think libertarians should concede that given the existence of a mixed market economy, these charity programs are likely to fall short, because they were not put in place to meet that “demand”. I don’t think New Deal revisionists should dwell on the topic of short-term welfare to the unemployed, because: 1. Ultimately, the cost to the taxpayer is marginal, compared to greater expenses. 2. It’s not likely to distort the economy or retard economic growth; the impact would be marginal, at worst.
Sure, Evidence Looks Keynesian If That’s How You Doctor It
In his most recent op-ed, “That ’30s Feeling”, Paul Krugman draws parallels between current calls for austerity and the Germany of the 1930s. This time, factual history is against Krugman’s thesis. Germany’s collapse in the early 1930s was hinged on debt and the inability of their central bank to pay for it. Continue reading
Posted in History
Tagged debt, Depression, fiscal, Germany, Government, Great, Krugman, Stimulus
10 Comments
Krugman on Hayek
Krugman believes high interest rates will lead to persistently high unemployment. The Austrians respond. But, ultimately, nobody wins. Continue reading
Posted in Miscellaneous
Tagged Anderson, Austrian, Depression, Economics, Great, Hayek, Keynesian, Krugman, liquidation
18 Comments
Robert Murphy on the Double Dip
I’d like to come to Murphy’s defense regarding inflation and offer some points on the possibility of a double-dip. For the time being, I predict a continuation of the upward inflationary trend. We are seeing a greater destruction than production of wealth, as it flattens the structure of production. This is a trend towards impoverishment, not recovery, and does indicate the possibility of an increase in the rate of change of CPI. Continue reading
Posted in Uncategorized
Tagged Bubble, consumer, debt, Depression, dip, double, expenditure, Great, index, inflation, Investment, price, Private, production, public, Recession, stagflation
2 Comments
Empirical Evidence for Austrian Theory
Graph showing greater drop in producer goods industry, rather than consumer goods. Continue reading
Posted in History
Tagged Austrian, boom, Credit, Depression, eichengreen, Great, malinvestment, Theory
20 Comments
Tom Woods & the New Deal
Tom Woods will be teaching a class on the New Deal, through the Mises Academy. Continue reading
Business Cycles in Perspective
Putting the recession into perspective. Continue reading
Posted in Theory
Tagged Depression, Great, money, perspective, Recession, supply, Unemployment
2 Comments
Some Links
Discussion points for 15 April 2010. Continue reading
Posted in Miscellaneous
Tagged anthropogenic, deal, Depression, global, Great, iraq, Krugman, new, Politics, Roosevelt, Samuelson, War, warming
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 →