Celebrating humanity's flourishing through the spread of capitalism and the rule of law
21 Nov 2023 Leave a comment
in development economics, economic history, growth disasters, liberalism, libertarianism, macroeconomics, Marxist economics, monetary economics Tags: Argentina, dollarisation
After a libertarian candidate took first place in Argentina’s presidential primary back in August, I wrote that the runoff would be the most important election of 2023 (even more important than the fortunately failed referendum to weaken TABOR in Colorado). Amazingly, Argentinian voters opted for the libertarian by a strong 56-44 margin. To understand President-Elect […]
A Libertarian Landslide in Argentina
18 Nov 2023 Leave a comment
in budget deficits, business cycles, economic growth, economic history, fiscal policy, great depression, labour economics, labour supply, macroeconomics, monetary economics, unemployment
TweetWant to get a few hours’ worth of solid learning in less than 35 enjoyable minutes? Listen to my Mercatus Center colleague David Beckworth’s podcast (from October 2022) with George Selgin on the New Deal. Seriously. It will be 34-plus minutes very well spent. George’s book – False Dawn – is forthcoming from the University…
George Selgin on the New Deal and Recovery (and Relief and Reform)
17 Nov 2023 Leave a comment
in Austrian economics, business cycles, economics of education, Euro crisis, F.A. Hayek, global financial crisis (GFC), great depression, great recession, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics
Here is the audio, video, and transcript. Here is the episode description: Jennifer Burns is a professor history at Stanford who works at the intersection of intellectual, political, and cultural history. She’s written two biographies Tyler highly recommends: her 2009 book, Goddess of the Market: Ayn Rand and the American Right and her latest, Milton Friedman: The […]
My Conversation with the excellent Jennifer Burns
16 Nov 2023 Leave a comment
in defence economics, development economics, economic history, growth disasters, history of economic thought, law and economics, macroeconomics, monetary economics, property rights Tags: monetary policy, Somalia
The rebel-controlled Yemeni rial is made up entirely of a fixed supply of notes printed prior to 2016. In the chart below you can see it appreciating in value (the blue line) against the dollar, issued by the world’s most powerful state. pic.twitter.com/vioXHmz2wQ — John Paul Koning (@jp_koning) November 15, 2023
Quantity theory of money, or fiscal theory of the price level?
15 Nov 2023 Leave a comment
in business cycles, economics of bureaucracy, financial economics, fiscal policy, inflation targeting, macroeconomics, monetary economics, Public Choice Tags: monetary policy
It was in mid-August that this particular bit of shameless Reserve Bank spin got going. From a post in late August It proved to be nonsense of course. Once we had access to the short little IMF piece, published at the back of the Fund’s Article IV review, it was clear that it all amounted […]
Shameless central bankers
15 Nov 2023 Leave a comment
in applied price theory, budget deficits, business cycles, economic growth, economic history, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, inflation targeting, labour economics, macroeconomics, Milton Friedman, monetarism, monetary economics, unemployment Tags: monetary policy
15 Nov 2023 Leave a comment
in applied price theory, budget deficits, business cycles, econometerics, economic history, financial economics, fiscal policy, great depression, great recession, history of economic thought, inflation targeting, macroeconomics, monetarism, monetary economics Tags: monetary policy
14 Nov 2023 Leave a comment
in applied price theory, Austrian economics, business cycles, comparative institutional analysis, econometerics, economic history, economics of education, economics of regulation, fiscal policy, great depression, history of economic thought, labour economics, liberalism, libertarianism, macroeconomics, Milton Friedman, monetarism, monetary economics Tags: monetary policy
09 Nov 2023 Leave a comment
in budget deficits, business cycles, econometerics, economic growth, economic history, Euro crisis, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, inflation targeting, macroeconomics, Milton Friedman, monetarism, monetary economics, public economics Tags: monetary policy
06 Nov 2023 Leave a comment
in business cycles, economic history, fiscal policy, great depression, history of economic thought, labour economics, macroeconomics, monetary economics, unemployment
One of my goals when launching this blog in 2011 was to revive interest in the important, but unfortunately neglected and largely forgotten, contributions to monetary and macroeconomic theory of Ralph Hawtrey. Two important books published within the last year have focused attention on Ralph Hawtrey: The Federal Reserve: A New History by Robert Hetzel, […]
Ralph Hawtrey, Part 1: An Overview of his Career
31 Oct 2023 Leave a comment
in Austrian economics, business cycles, history of economic thought, macroeconomics, monetary economics
When writing GOAT: Who is the Greatest Economist of all Time, and Why Does It Matter? I vowed I would write the whole truth. Not just that I agreed with everything I wrote (the case with every book), but I that I would relate all that I was thinking. Here is one part of the […]
*GOAT* on Friedrich A. Hayek and his delusions
27 Oct 2023 Leave a comment
in economics of bureaucracy, macroeconomics, monetary economics, Public Choice
On Saturday dozens of candidates for the governing Labour Party stood for election to Parliament. The aim was to form (at least a big part of) the next government. They didn’t succeed. People will debate for decades precisely what motivated the public as a whole to vote as we did, but having governed for the […]
Accountability
26 Oct 2023 Leave a comment
in business cycles, economic growth, fiscal policy, international economics, macroeconomics, monetary economics
That was the title of a ten page piece published last week by the ANZ economics team (chief economist Sharon Zollner and one of her offsiders, who appears to be a temporary secondee from the Reserve Bank). You can find a link to the paper here. The gist is captured in the paper’s summary I […]
Finding external balance
19 Oct 2023 Leave a comment
in business cycles, economic history, economics of bureaucracy, inflation targeting, macroeconomics, monetary economics, politics - New Zealand, Public Choice Tags: monetary policy
Monday’s post was on the important place effective accountability must have when government agencies are given great discretionary power which – as is in the nature of any human institutions – they will at times exercise poorly. My particular focus is on the Reserve Bank, both because it is what I know best, because it […]
What should be done about the Reserve Bank?
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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