Wednesday , June 20 2018
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Tag Archives: Austrian Economics

Leland Yeager and Austrian Macroeconomics

As most CP readers probably know, Leland Yeager passed away at age 93 on April 23rd. Many prominent economists with connections to Austrian economics have written very laudatory obituaries of a man who I think was the most underappreciated monetary theorist of the 20th century. I’d like to say some words about Yeager’s contributions as well, focusing on the way in which his work is central to a broader Austrian-oriented macroeconomics. This post will be personal, in the sense that...

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A dilemma for libertarians: Should central banks be strong or weak?

Over at TheMoneyIllusion I have a post looking at the Fed's ability to engage in policies such as QE and negative interest on reserves. What are the limits to the Fed's ability to do these policies, and should there be limits? Here I'd like to take a broader view of the issues. Let me start off with an analogy. Should libertarians favor a strong or a weak police force? One the one hand, a weak police...

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My Interview with Murphy-Lara

Robert Murphy, who is one of the heavy hitters for Econlib, interviewed me by email last month and it's out in the Lara-Murphy Report. The report is by paid subscription but Bob gave me permission to post the whole interview here. I think it answers some questions people have had about how I ended up in the Reagan administration, how I became such a non-interventionist, and what is my connection to Austrian...

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For Restaurants, Sweeping the Floor is Equivalent to Cooking Great Food

One of the most popular proponents of BE is Rory Sutherland (who I’ve been praising for years), an ad executive with Ogilvy Mather. The interesting thing about Sutherland is that he also calls himself a follower of Mises, in addition to promoting popular BE concepts and nudges. He once gave a talk at Google titled “Praxeology: Time to Rediscover a Lost Science.” Praxeology, of course, was Mises’s preferred term for the general science of human action. One quote...

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DeLong on Scott’s Seeing Like a State

I was talking to an economist friend today about Berkeley economist Brad DeLong and I told him that my two favorite DeLong pieces are his "Cornucopia," which I have blogged about, and his review of James Scott's Seeing Like a State. My friend hadn't heard of the latter. Here are some excerpts to tantalize the reader. The second paragraph:On one level, it is an extraordinary well-written and well-argued...

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Call for Papers: 2017 SDAE meetings (Tampa, FL, November 17-19)

The annual meeting of the Society for the Development of Austrian Economics will be held during the Southern Economics Association meetings in Tampa, FL at the Tampa Marriott Waterside Hotel and Marina, November 17-19, 2017 (Friday to Sunday; more information can be found here: https://www.southerneconomic.org/conference/). Members interested in presenting papers, serving as chairs/discussants, or proposing entire panels should submit proposals by Friday, April 1, 2017. Please...

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Toward A New World Order, part III

A new world order is coming of age and the transition is painful to accept for a Western middle class with a deep-seated sense of entitlement. We showed how the West feels threatened globally in Toward a New World Order and followed up explaining how this translate into domestic politics in Toward a New World Order Part II. We will now continue this series by showing how gross economic mismanagement have created the new political...

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Salute to Von Mises: For 92 Years He Has Fought the Good Fight

(Reprinted by courtesy of Barron’s National Business and Financial Weekly, October 1, 1973 issue, and with permission of Dr. Henry Hazlitt.) Reprinted from Mises.org Last Saturday marked the 92nd birthday of Ludwig von Mises, the greatest analytical economist of his generation. He has also been one of this century’s ablest champions of private enterprise and the free market. Those 92 years have been amazingly fruitful. In conferring its Distinguished Fellow award in 1969, the American...

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