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William L. Anderson

William L. Anderson



Articles by William L. Anderson

Is California an Economic Paradise? Paul Krugman Thinks So

3 days ago

The people who really run California aren’t going anywhere. Even if California voters throw out Newsom very little will change in state government. Original Article: “Is California an Economic Paradise? Paul Krugman Thinks So” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

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Paul Krugman’s Austrian Obsession

8 days ago

Paul Krugman seems to have a very unhealthy obsession with Austrian economics and especially the school’s theory of the business cycle. More than two decades ago, he attacked it (wrongly calling it a “Hangover Theory” and trying to make a morality play out of it), claiming it had the credibility of the “phlogiston theory of …

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Is California an Economic Paradise? Paul Krugman Thinks So

10 days ago

Paul Krugman is worried, very worried, that California voters will overturn all of the many progressive gains that the state has made in the past decade when they vote in the September recall election for Gov. Gavin Newsom. If polls are correct, there is the possibility that conservative Larry Elder might replace Newsom. He writes: …

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The Great Keynesian Coup of August 1971: Fifty Years Later

22 days ago

The collapse of the monetary order in 1971 reflected the massive dislocations and malinvestment of resources that ultimately turned the decade into one crisis after another. Keynesians are doing something similar today. Original Article: “The Great Keynesian Coup of August 1971: Fifty Years Later” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated …

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Unmasking the Latest Bipartisan (and Dangerous) Climate Bill

August 16, 2021

Republicans put a free market happy face on the latest environmentalist policy prescriptions in DC, but that does not change the fact that centrally planned climate policy is terrible economics. Original Article: “Unmasking the Latest Bipartisan (and Dangerous) Climate Bill” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

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The Great Keynesian Coup of August 1971: Fifty Years Later

August 10, 2021

On August 15, 1971, the last remains of what had been a magnificent monetary system died a terrible death, and the American academic, political, business, and media elites led the cheers. The Dow Jones Average jumped by more than 32 points the next day. A de facto national default was spun as a great liberation …

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Media Wars: The Battle to Shape Our Minds

August 10, 2021

  Media Wars: The Battle to Shape Our MindsWalter Donway and Vinay KolhatkarIndependently Published, 2020, 330 pp. William L. Anderson ([email protected]) is professor of economics at Frostburg State University. Even the sunniest optimist would admit that the year 2020 was extremely challenging with the COVID-19 pandemic that hit our shores in January, anti-police riots in …

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Unmasking the Latest Bipartisan (and Dangerous) Climate Bill

August 4, 2021

It is summer in the United States, which means temperatures are hot and western forests and grasslands are burning—as has been the case as long as people have lived here. In our current age, however, in which there is alleged to be a political “solution” to nearly every problem, politicians believe they can use governmental …

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Why Progressives Will Never Accept Market-Based Medical Care

July 27, 2021

A recent article on this page highlighted a stunning situation in which a surgery clinic in Oklahoma City was able to offer outpatient procedures at less than one-tenth of what local hospitals were charging to third-party payment systems such as insurance companies and Medicare. This was a significant article in many ways, in that it presented …

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No Bernie, Collegiate Athletes Do Not Need a Union

June 26, 2021

When we last saw Bernie Sanders at the Joe Biden inaugural bundled and wearing a mask, some of us hoped that Bernie would still be masked—and silent. Unfortunately, as it becomes increasingly clear that the Biden administration is wanting to transform the USA into a progressive paradise, Sanders has joined the movement in which no …

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There’s No Conflict between Profit and “Social Responsibility”

June 2, 2021

The “People over Profits” mantra is once again is being heard in Washington. But this time we’re hearing about it from business lobbyists themselves who are now parroting leftwing slogans about “social responsibility.” Original Article: “There’s No Conflict Between Profit and ‘Social Responsibility'” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by …

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There’s No Conflict Between Profit and “Social Responsibility”

May 27, 2021

The slogan People over Profits once again is being heard in Washington and elsewhere in the country. This time, however, the sloganeering doesn’t come from Jane Fonda or Bernie Sanders (although both have used that mantra for many years) but rather from business sources themselves. From the US Chamber of Commerce to the Business Roundtable, we are …

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Yes, Paul Krugman, Booms Are Unsustainable

May 15, 2021

That Austrians and Keynesians do not share many views on economics (or probably anything else) is obvious, so a difference of opinion between the two hardly should surprise anyone. However, it still is important to point out the differences between the two camps, especially at the current time when Keynesians are all the rage in …

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We Cannot Build an Economy on Lies

May 11, 2021

In a recent issue, Time Magazine boldly declared, “The Free Market Is Dead,” and then added: “What Will Replace It?” Of course, one always can expect Time to be disingenuous at best and dishonest at worst, and as an academic economist, I have come to realize that after reading Time off and on for more …

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Why Empowering Organized Labor Will Definitely Not Help the Economy

April 26, 2021

Paul Krugman has a very prominent perch from the editorial page at the New York Times and he has used his influence, among other things, to shill for two things that are anathema to a strong economy: inflation and organized labor. My analysis examines what Krugman says about labor unions and explains why once again …

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Biden’s Amtrak Infrastructure Scam

April 24, 2021

Profit-seeking entrepreneurs move factors of production to their highest and most economical uses. Amtrak, on the other hand, is diverting useful factors of production from higher use values to lower-valued uses. To put it another way, Amtrak is destroying wealth. Original Article: “Biden’s Amtrak Infrastructure Scam” This Audio Mises Wire is generously sponsored by Christopher …

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Biden’s Amtrak Infrastructure Scam

April 19, 2021

Listen to the Audio Mises Wire version of this article. When he was in the US Senate, President Biden was famous for taking Amtrak home to Wilmington, Delaware, each night and he often was called “Amtrak Joe” for his enthusiasm about passenger rail. Indeed, people who live in the Northeast Corridor from Washington to Boston find rail travel—whether it …

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This Is What the Progressives Want To Do to Us

March 11, 2021

Think of Minneapolis and Portland and then apply that model nationwide. Then you have an idea where progressive radicals want to take us.  Original Article: “This Is What the Progressives Want To Do to Us” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.  

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A Wave of Abusive Federal Prosecutions Is Coming

January 30, 2021

The violent protest at the US Capitol on January 6 has long been over, but the upcoming Biden administration’s response to it is likely to do greater violence to the US Constitution and the rule of law than anything the worst of the protesters could have accomplished. Thanks to the response of the George W. Bush administration …

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California Is Worse Than You Think

January 14, 2021

If California voters and politicians do not understand the current crisis, we will see the continuous march to perdition as California politicians refuse to acknowledge that they are killing the geese laying the golden eggs. Original Article: “California Is Worse Than You Think​” This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by …

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California Is Worse Than You Think

January 9, 2021

My colleague from the philosophy department was becoming increasingly angry. He was trying to be polite, but it was clear that he was raging inside. After a few minutes, he smiled a very strained smile and excused himself. Our conversation was about California, or to be more specific, California governance. As readers can imagine, he …

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How Walter Williams Helped Me Lose a Job

December 3, 2020

The passing of economist Walter Williams this week is a blow to anyone who cares about free markets and the negative effects of government intervention on human progress. Professor Williams articulated the role of markets, prices, and private property about as well as any economist outside of Ludwig von Mises or Murray Rothbard. Like Mises and …

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The Second Act Will Be Worse Than the First: Lockdowns Are Not the Answer

October 14, 2020

Given the overt hostility that progressives have toward private enterprise in the first place, politicians will take shutdown-caused shortages and empty shelves as “proof” that private enterprise has failed. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “The Second Act Will Be Worse Than the First: Lockdowns …

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The Second Act Will Be Worse Than the First: Lockdowns Are Not the Answer

October 8, 2020

In the first presidential “debate” (I use that word creatively), Joe Biden hinted that he would order a national lockdown in order to “defeat” the covid-19 virus, and there certainly seems to be a consensus in the media and among political elites that if there is another “outbreak” of covid, then the “shelter in place” …

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Carter vs. Reagan: The Last Semi-Intelligent Presidential Race

September 26, 2020

Jimmy Carter doesn’t get credit for his deregulation efforts, but his initiatives probably were as significant a boost to the economy as any president has accomplished since 1980. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack. Original Article: “Carter vs. Reagan: The Last Semi-Intelligent Presidential Race”.

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Carter vs. Reagan: The Last Semi-Intelligent Presidential Race

September 23, 2020

Presidential campaigns in the United States tend to be discouraging affairs, even if one is not a libertarian who has zero expectations that anything good can come from American elections. The old saw that insanity consists of doing the same thing repeatedly and somehow expecting different results applies to presidential campaigns as well as to …

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Say’s Law and the Austrian Theory of the Business Cycle

July 30, 2020

Abstract: Economists have tried to explain business cycles as well as fluctuations in the economy, but over the past two centuries, the explanations have fallen into two areas. The first area tries to explain business cycles as being the result of fluctuating aggregate demand; if overall demand for goods is strong (or to put it …

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Krugman’s Keynesianism Has Made Him Wrong about Much More Than Economic Theory

July 21, 2020

Paul Krugman famously predicted in 1998 that the internet would prove to be no more important than the fax machine. This error proceeds straight from his lack of economic understanding. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “Krugman’s Keynesianism Has Made Him Wrong about Much More …

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The Disastrous Legacy of Woodrow Wilson

July 9, 2020

Woodrow Wilson was an especially devoted white supremacist, even by the standard of his day. The Left is finally targeting Wilson for this, but Wilson’s legacy is far worse than even the Left will admit. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: “The Disastrous Legacy of …

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