Economics

A Free Market in Labor

by
Labor Economics from a Free Market Perspective: Employing the Unemployable by Walter Block (World Scientific, 2008); 393 pages. The first time I ever heard of Walter Block was in 1980, when a faculty colleague showed me his copy of Block’s book Defending the Undefendable. Knowing of my anarcho-capitalist views, my colleague said ... [click for more]

Hope Is No Substitute for Theory

by
Should libertarians hope that Barack Obama succeeds or fails in his presidency? The question comes to mind because conservatives got embroiled in the issue when their leading radio star, Rush Limbaugh, said he hoped Obama would fail. Some commentators thought that was a horrible thing to say. Radio stars need ... [click for more]

The Fallacies of Another New Deal, Part 2

by
Part 1 | Part 2 | Part 3 In the latter part of 1920, the economy fell into a deep recession, which lasted well into 1921. As Murray Rothbard points out, it was the last downturn in which the government did not play much of a role. Newly elected President Warren G. Harding openly said that government should ... [click for more]

Spending Our Way to Wealth and Prosperity

by
One of the most ludicrous policy prescriptions issued by federal officials is the one that exhorts the citizenry to spend more money to get the nation out of a recession. That’s the key to national economic prosperity, government officials exclaim. “Go to the mall and shop,” they tell people. If people will just spend, spend, and spend some more, ... [click for more]

The Fallacies of Another New Deal, Part 1

by
Part 1 | Part 2 | Part 3 As the financial panics on Wall Street seem to be never-ending, a lot of commentators are openly asking whether the United States will slide into something akin to the Great Depression of nearly 80 years ago. Certainly, there is real fear in the air, and at this writing, the current ... [click for more]

Two Ways to Fight an Economic Depression

by
“There was a depression in 1920? Really?” That was the comment I received recently from a smart, usually well-informed editor. Yes, there was a depression. But it was over so fast that few people seem to have heard of it. Yet almost everyone knows about the Great ... [click for more]

Obama’s Uninformed Optimism

by
President Obama is optimistic that “We will rebuild, we will recover, and the United States of America will emerge stronger than before.” That and $5 will get you coffee at Starbucks — until inflation kicks in. In his appearance before Congress, Obama demonstrated he can give a speech. Big deal. We ... [click for more]

Hope for Economic Wisdom

by
Should people who disagree with Barack Obama hope he succeeds in his presidency? Conservatives are caught in this question because their leading radio star, Rush Limbaugh, said he hopes Obama fails. Radio stars need regular public controversy to keep their listeners tuned in, so there’s no point in analyzing what ... [click for more]

Stimulating Consumption Won’t Help Economy

by
Many politicians, economists, and pundits — under the influence of Keynesian “economics” — worry that Barack Obama’s stimulus package won’t be stimulative enough because too much of the money might go to people who won’t spend it. Typical is this recent editorial paragraph from the New York Times about the tax-cut component ... [click for more]

Government Can’t Really Stimulate the Economy

by
The money sluices are about to open wide on Capitol Hill. With a new Congress convened and a new president about to take office, we are likely to see record-shattering government expenditures. All inhibitions about deficit spending, as weak as they have been in recent years, are now dissolved. The ... [click for more]

What Greenspan Missed

by
Former Federal Reserve Chairman Alan Greenspan made headlines around the world with this admission: “hose of us who have looked to the self-interest of lending institutions to protect shareholders’ equity (myself especially) are in a state of shocked disbelief. Such counterparty surveillance is a central pillar of our financial ... [click for more]
Page 14 of 21« First...1213141516...20...Last »