Category Archives: Uncategorized

ethics: Are Economists Taking the Nuremberg Defense?

Arnold Kling links to an article by David Colander and seven other economists calling for a more ethical science of economics: In our view, economists, as with all scientists, have an ethical responsibility to communicate the limitations of their models … Continue reading

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book: John Taylor, Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

Buy it now from Amazon.  Ships Wednesday. Recommendations for John Taylor’s Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis: “This short volume does a masterful job of tracking the stunning financial market and … Continue reading

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article: Ebenstein on Hayek & the Fed’s boom / bust

Quotable: “Let us focus first on the Fed, since it is the main culprit in the current mess .. The federal-funds rate, the Fed’s favored tool for influencing the economy, stood at 6.5 percent in early 2001–in hindsight, excessively high. … Continue reading

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cnbc: the Alan Greenspan Interview

Here’s the link to Alan Greenspan’s mea culpa / “don’t blame me” video interview broadcast as part of CNBC’s “House of Cards” special. Greenspan admits he had the choice of correcting the mistakes of the Federal Reserve at a relatively … Continue reading

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bust: Alan Greenspan, Can You Say “Artificial Boom & Inevitable Bust”?

It turns out, Alan Greenspan was a closet Hayekian macroeconomist all along.  Beyond a dose of hedge here and there, Greenspan seems to be aware that the mistakes of the Fed needed to be corrected.  But he simply chose to … Continue reading

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