A Helpful Discussion on Hayek, Deflation, Overpriced Labor, etc.

Here.

Hayek, British Deflation, Keynes, DeLong, 1925-1932 and all that

Here is some of what Friedrich Hayek actually wrote and said about deflation, British economic policy 1925-1936, Keynes, etc. [More will be added later, time permitting].

Hayek:

“The moment there is any sign that the total income stream may actually shrink [during a post-bust deflationary crash], I should certainly not only try everything in . . . → Read More: Hayek, British Deflation, Keynes, DeLong, 1925-1932 and all that

Hayek on Keynes, Britain, wage rates & deflation during the British Depression of the 20s & 30s

What would Mises say about a post bust deflation?

Richard Ebeling provides a wonderful conversational account in dialogue with Richard Wenzel.  The reveal comes at the end, but the whole thing is worth your time, for those interested in the topic.

UPDATE:  Read also this.

“Deflation .. Prolonged The Depression” — New Friedrich Hayek Interview

Now in English: Conversations with Great Economists:  Friedrich A. Hayek, John Hicks, Nicholas Kaldor, Leonid V. Kantorovich, Joan Robinson, Paul A.Samuelson, Jan Tinbergen by Diego Pizano.

Originally published in Spanish as Dialogos Con Economistas Eminenes, (Mexico) Fondo de Cultura Economica, 1980.  Preview the book at Google Books here.  Buy the book from Amazon here.

The . . . → Read More: “Deflation .. Prolonged The Depression” — New Friedrich Hayek Interview

Steve Hanke vs Ben Bernanke & the Fed

Quotable:

“During his face time [on national TV Ben] Bernanke explained many things ..  Unfortunately, he did not address my main beef with the bank: that it clings to a flawed inflation-targeting regime with a horrible history of monetary policy failures ..

In November 2002 then governor Bernanke .. misdiagnosed a benign cyclical dip in . . . → Read More: Steve Hanke vs Ben Bernanke & the Fed

Hayek in 1931 on Post-Bust “Secondary” Deflation

Just to set the record straight, I’d like to point out that Friedrich Hayek was well aware of the problem of the sort of “secondary” deflation which often occurs after the onset of an economic bust made inevitable by a prior credit induced artificial boom.  In part 2 of Hayek’s “Reflections on the Pure Theory . . . → Read More: Hayek in 1931 on Post-Bust “Secondary” Deflation

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Random Quote

Under socialism there will be no economic or social question that would not be political questions in that sense that their solution will depend exclusively on who wields the coercive power. — F. A. Hayek

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