TweetPrager University’s new short video on the Great Recession was inspired by Chapter 5 of Phil Gramm’s and my 2025 book, The Triumph of Economic Freedom. The post On the Great Recession appeared first on Cafe Hayek.
On the Great Recession
On the Great Recession
02 Apr 2026 Leave a comment
in Austrian economics, budget deficits, business cycles, economic growth, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, labour economics, macroeconomics, monetarism, unemployment
Javier Milei Week, Part V: Fixing Argentina’s Monetary Crisis
27 Mar 2026 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, development economics, growth disasters, macroeconomics, monetary economics Tags: Argentina
I’ve been participating in a conference in Argentina this week on “Understanding Argentina’s Transformations Under Milei.” Part I reviewed the horrible economic conditions that plagued Argentina when Javier Milei took office. Part II looked at Milei’s spending restraint and some of the subsequent improvements in fiscal outcomes. Part III examined Milei’s remarkable progress with regards to […]
Javier Milei Week, Part V: Fixing Argentina’s Monetary Crisis
Javier Milei Week, Part IV: Argentina’s Pre-2023 Descent into Protectionism
26 Mar 2026 Leave a comment
in applied price theory, Austrian economics, development economics, economic history, growth disasters, industrial organisation, international economics, survivor principle Tags: Argentina
Last year, as part of a series on the additional reforms Milei needs to enact in Argentina, I shared this video on reducing protectionism. Since the video was only one-minute long, there was no chance to provide details. But at the conference in Buenos Aires this week, Professor Jorge Streb shared some fascinating details on […]
Javier Milei Week, Part IV: Argentina’s Pre-2023 Descent into Protectionism
Javier Milei Week, Part III: Good Economic Policies, Good Economic Results
25 Mar 2026 Leave a comment
in applied price theory, Austrian economics, development economics, economic history, economics of bureaucracy, economics of regulation, growth disasters, Public Choice Tags: Argentina
Part I of this series reviewed the horrible economic conditions that plagued Argentina when Javier Milei took office. Part II looked at Milei’s spending restraint and some of the subsequent improvements in fiscal outcomes. For today’s column, let’s focus on what Milei has achieved in areas other than fiscal policy, and it will be based […]
Javier Milei Week, Part III: Good Economic Policies, Good Economic Results
Javier Milei Week, Part II: Good Fiscal Policies, Good Fiscal Results
24 Mar 2026 Leave a comment
in applied price theory, Austrian economics, budget deficits, development economics, economic history, fiscal policy, growth disasters, macroeconomics Tags: Argentina
Part I of this series focused on the horrible economic conditions that led to Javier Milei’s election in late 2023. For Part II, let’s start with this segment from an interview I did last week while in Slovenia. In less than two minutes, I tried to summarize Milei’s achievements. Let’s take a more detailed look, […]
Javier Milei Week, Part II: Good Fiscal Policies, Good Fiscal Results
Javier Milei Week, Part I: Inheriting an Economic Crisis
23 Mar 2026 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, development economics, economic growth, economic history, growth disasters, liberalism, libertarianism, macroeconomics, Marxist economics Tags: Argentina
Given my enthusiasm for Javier Milei and his libertarian reforms, I’m excited to be in Buenos Aires for a week-long program on “Understanding Argentina’s Transformations Under Milei.” This means a heavy does of Milei-ism this week. For today’s column, I’m going to share some slides from a presentation by Alejandro Rodriguez on the “Inheritance” Milei […]
Javier Milei Week, Part I: Inheriting an Economic Crisis
Bet On It Book Club: For a New Liberty, Chapter 6
14 Mar 2026 Leave a comment
in Austrian economics, liberalism, libertarianism, Murray Rothbard
[Update: I’m on vacation next Friday, so the next installment of this book club will be in two weeks.]SummaryIn this chapter on “Personal Liberty,” Rothbard puts run-of-the-mill “civil libertarians” to shame. He’s more radical than most of the left on traditional civil liberties like freedom of speech, drugs, and wiretapping. He stands up for the…
Bet On It Book Club: For a New Liberty, Chapter 6
Dismantling the competition myth
06 Mar 2026 Leave a comment
in Austrian economics, comparative institutional analysis, economic history, economics of regulation, entrepreneurship, history of economic thought, industrial organisation, law and economics, organisational economics, politics - Australia, technological progress, theory of the firm Tags: competition law, creative destruction
Ask anyone in Australia’s competition law community what transformed the economy, and you will hear a familiar story. Australia was once a cartelised, complacent place where businesses divided up markets and consumers paid the price. Then came the Trade Practices Act in 1974, and competition law forced firms to compete. This is not a fringe […]
Dismantling the competition myth
Bet On It Book Club: For a New Liberty, Chapter 4
02 Mar 2026 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, economics of bureaucracy, industrial organisation, law and economics, liberalism, Murray Rothbard, privatisation, Public Choice
Update: I’m doing a Substack Live today on You Have No Right to Your Culture with the Boyd Institute’s Peter Banks. 4 PM ET.SummaryThis is the shortest chapter of the book, just six pages long. Rothbard makes a laundry list of what he calls “the major problem areas of our society” and argues that government…
Bet On It Book Club: For a New Liberty, Chapter 4
Celebrating Two Years of Libertarian Success in Argentina
27 Dec 2025 Leave a comment
in applied price theory, Austrian economics, budget deficits, comparative institutional analysis, constitutional political economy, development economics, economic growth, economics of bureaucracy, economics of regulation, fiscal policy, growth disasters, history of economic thought, income redistribution, industrial organisation, labour economics, liberalism, libertarianism, macroeconomics, Public Choice, rentseeking, unemployment Tags: Argentina
As explained in my four-part series (here, here, here, and here) and in this clip from a recent interview, Javier Milei’s first two years have been amazingly successful. There are two points in the interview that deserve emphasis. First, Javier Milei’s libertarian policies already have been extremely beneficial for the Argentine economy. Inflation has dramatically […]
Celebrating Two Years of Libertarian Success in Argentina
Who Won the Socialist Calculation Debate (with Peter Boettke) 2/17/25
29 Nov 2025 Leave a comment
in applied price theory, Austrian economics, comparative institutional analysis, development economics, economic history, economics of information, entrepreneurship, F.A. Hayek, history of economic thought, industrial organisation, law and economics, Ludwig von Mises, market efficiency, property rights, survivor principle, Thomas Sowell
My excellent Conversation with Cass Sunstein
27 Nov 2025 Leave a comment
in Austrian economics, economics of education
Cass was in top form, and so we went on for almost two hours. In his Substack he described it as “The most fun interview I have ever done.” Here is the audio, video, and transcript. Here is part of the episode summary: Tyler and Cass discuss whether liberalism is self-undermining or simply vulnerable to…
My excellent Conversation with Cass Sunstein
Is it dangerous to say that entrepreneurs are heroes?
30 Sep 2025 Leave a comment
in applied price theory, Austrian economics, entrepreneurship, history of economic thought, industrial organisation
Back in the early 1990s, I wrote a paper called “The Creative-Destroyers: Are Entrepreneurs Mythological Heroes?” A reviewer at a journal said “The conclusion that entrepreneurs are heroes seems to be very dangerous!” That was in 1993.There is a picture of this review below. After that is a link to where I posted this paper here…
Is it dangerous to say that entrepreneurs are heroes?
Mario Rizzo on behavioural economics
14 Sep 2025 1 Comment
in applied price theory, Austrian economics, behavioural economics
I was delighted to share a stage with Prof Mario Rizzo, co-author of Escaping Paternalism and other fine works, at the IEA earlier this year. I never got around to posting the video, but here it is. Mario is an articulate critique of behavioural economics and “nudge” policies. I also mentioned his work on the slippery slope…
Mario Rizzo on behavioural economics
Mises, Bastiat, Public Opinion, and Public Choice
12 Sep 2025 Leave a comment
in applied price theory, Austrian economics, Public Choice
20th anniversary of my prize-winning paper with Ed Stringham
Mises, Bastiat, Public Opinion, and Public Choice
Utopia, you are standing in it! 
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