The Lowdown on Crude Keynesianism
Posted in Not So Fast! on 15 July 2009
Stats: 215 views and 16 Comments As the economy goes south, we hear calls for a “second stimulus,” most prominently from Paul Krugman, the Nobel-prize-winning economist and New York Times columnist. To argue against further accumulation of government debt and the printing of new money, according to Krugman, is to fall back on “discredited” economic thinking: For ...
Posted in Not So Fast! on 15 July 2009
Stats: 215 views and 16 Comments As the economy goes south, we hear calls for a “second stimulus,” most prominently from Paul Krugman, the Nobel-prize-winning economist and New York Times columnist. To argue against further accumulation of government debt and the printing of new money, according to Krugman, is to fall back on “discredited” economic thinking: For ...
Government Motors: Why It Will Fail
Posted in Not So Fast! on 10 June 2009
Stats: 953 views and 7 Comments If you like Amtrak and the Postal Service, then you surely will love “Government Motors,” as the entity most responsible for the carmaker’s demise takes control. When Ludwig von Mises wrote Bureaucracy in 1944, he understood then what we are seeing now with GM. Mises understood that the bureaucratic model ...
Posted in Not So Fast! on 10 June 2009
Stats: 953 views and 7 Comments If you like Amtrak and the Postal Service, then you surely will love “Government Motors,” as the entity most responsible for the carmaker’s demise takes control. When Ludwig von Mises wrote Bureaucracy in 1944, he understood then what we are seeing now with GM. Mises understood that the bureaucratic model ...
Keynesian Economics and the “Market Test”
Posted in Not So Fast! on 27 May 2009
Stats: 1,080 views and 3 Comments When I was in graduate school, some professors insisted that Austrian economics “failed the market test” of academic economics. Now one must consider that the “market test” is acceptance, so what they really were saying is that Austrian economics was not accepted because it was not accepted, which is not ...
Posted in Not So Fast! on 27 May 2009
Stats: 1,080 views and 3 Comments When I was in graduate school, some professors insisted that Austrian economics “failed the market test” of academic economics. Now one must consider that the “market test” is acceptance, so what they really were saying is that Austrian economics was not accepted because it was not accepted, which is not ...
The Continuing Federal Budget Nightmare
Posted in Not So Fast! on 14 May 2009
Stats: 661 views and 2 Comments The numbers that come in from the government are staggering, with a projected federal budget deficit of nearly two trillion dollars. As one recent news account put it: With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents ...
Posted in Not So Fast! on 14 May 2009
Stats: 661 views and 2 Comments The numbers that come in from the government are staggering, with a projected federal budget deficit of nearly two trillion dollars. As one recent news account put it: With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents ...
