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Tag Archives: Hayek
Hayek’s Pure Theory of Capital Vol. 2
Hayek’s Pure Theory of Capital was meant to be a two-volume series. As we know, the second volume was never written. This has to do with the complexity of the topic covered. Unfortunately, however, since the publication of The Pure Theory of Capital, not much work has been put into expounding the theory further. Continue reading
Who is the Utopian?
Who are more utopian, Austrians or Keynesians? Continue reading
DeLong on Public Expenditure and Hayek
Brad DeLong writes on freshwater and Austrian macro, baffled at why he still needs to explain why public spending is pertinent in current economic conditions. He never paused to think that maybe his own case is unconvincing. Continue reading
Posted in Theory
Tagged Austrian, Brad, DeLong, Government, Hayek, Samuelson, spending, Unemployment
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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
Hayek #1
Hayek’s “Road to Serfdom” is #1 on Amazon’s best seller list! Continue reading
Randian Economic Objectivism?
I started reading Capitalism: The Unknown Ideal the other day, and, in discussing competing theories of value, a curious passage showed up that reads: “The subjectivist theory holds that the good bears no relation to the facts of reality, that … Continue reading
The Pretence of Knowledge
Hayek’s Nobel lecture on 11 December 1974, on the pretence of knowledge. Continue reading
Hayek and Robbins Caused the Great Depression?
Lawrence White corrects Friedman, Bernanke, DeLong, et. al., on Hayek’s and Robbin’s roles during the Great Depression. Continue reading
Posted in Miscellaneous
Tagged Bernanke, DeLong, Depression, Friedman, Great, Hayek, inflation, liquidation, Robbins, White
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Hayek, the Business Cycle and the Financial System
In “Monetary Theory and the Trade Cycle” Hayek holds that the business cycle is caused by fractional-reserve banking, which is a natural credit organization formed out of the market. If this is the case, then it follows that economic cycles are an intrinsic part of capitalism. Continue reading
Into the World of Objectivism
Some new books to tell you all about! Continue reading