Category Archives: unemployment

UNEMPLOYMENT — THE HAYEKIAN VISION VS THE FRIEDMAN VISION

Posted on February 3, 2011 by Greg Ransom

Arnold Kling comes up with The Quote of the Day: People are not employed by “the Walrasian system of general equilibrium equations.” They are employed by entrepreneurs.

Posted in equilibrium, unemployment, Walras | Comments Off

Why the boom & bust creates unemployment

Posted on September 6, 2010 by Greg Ransom

Jerry O’Driscoll explains how a competent understanding of the phenomena requires Hayekian thinking.

Posted in Boom & Bust, unemployment | Comments Off

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

Posted on July 7, 2010 by Greg Ransom
Posted in Deflation, gold, Keynes, unemployment, unions, Video | Tagged , | Comments Off

How Hoover’s Wage & Cartelisation Policies Caused the Great Depression

Posted on October 18, 2009 by Greg Ransom

UCLA economist Lee Ohania points out that in late 1929 and early 1930 a Depression-level industrial employment crash occurred before any serious deflation or banking panic hit the U.S. economy: Economists cite monetary contraction (Friedman and Schwartz, 1963) and banking … Continue reading →

Posted in Boom & Bust, Great Depression, unemployment | 1 Comment