David Stockman — read of the day

By Greg Ransom, on October 6th, 2010%

I agree with much of this.  Stockman rose to notoriety as a young Hayek-quoting Congressman in the 1970s.   Much of his diagnosis continues to track analysis offered by Hayek in the 1970s and 1980s.  The structural pathology, of course, has grown worse than Hayek could have imagined at the time.

Quote of the day:

““I . . . → Read More: David Stockman — read of the day

Comments are closed   U.S. economy

“U.S. sovereign debt crisis”

By Greg Ransom, on September 26th, 2010%

= 80,000 hits

Let’s check back in 6 months.

Comments are closed   U.S. economy

Quote of the Day

By Greg Ransom, on September 21st, 2010%

Arnold Kling:

We are in the middle of three crises. The first crisis, the failure of the securitization model in finance, is being papered over. Washington and Wall Street are trying to return to this failed model, which can only survive on the basis of subsidies provided by the Fed, Freddie Mac and Fannie Mae.

. . . → Read More: Quote of the Day

One comment - (Comments are closed)   U.S. economy

Richard Epstein see sharp decline for the American economy

By Greg Ransom, on September 20th, 2010%

The most respected authority on economic regulation in America sees a nation headed for increasingly steep decline.  Listen here.

On the list of  the most intelligent people in America, Richard Epstein ranks right at the top.  This is sobering stuff.

Comments are closed   Regulations, U.S. economy
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Our task [as economists] is to show how only a market and a competition-determined price system can enable us from day to day to adjust a worldwide division of labor to ever-changing circumstances and to maintain that degree of productivity which we need in order to keep the population of the world alive. — F. A. Hayek
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