UNEMPLOYMENT — THE HAYEKIAN VISION VS THE FRIEDMAN VISION

By Greg Ransom, on February 3rd, 2011%

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.

Comments are closed   equilibrium, unemployment, Walras

Why the boom & bust creates unemployment

By Greg Ransom, on September 6th, 2010%

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

Comments are closed   Boom & Bust, unemployment

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

By Greg Ransom, on July 7th, 2010%

Comments are closed   Deflation, gold, Keynes, unemployment, unions, Video   ,  

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

By Greg Ransom, on October 18th, 2009%

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 panics (Bernanke, 1983) as important determinants of the Depression, but industry was significantly depressed before . . . → Read More: How Hoover’s Wage & Cartelisation Policies Caused the Great Depression

One comment - (Comments are closed)   Boom & Bust, Great Depression, unemployment
Follow FriedrichHayek on Twitter

Random Quote

It is probably no exaggeration to say that economics developed mainly as the outcome of the investigation and refutation of successive Utopian proposals. — F. A. Hayek
خرید ساکس خرید vpn خرید vpn