Category Archives: Boom & Bust

Some Advice for George Soros

Foy and Stransky on the bust and Soros’s Institute for New Economic Thinking.  Quotable: George Soros’s $50M investments would have been better spent by sending a copy of .. F.A. Hayek’s The Constitution of Liberty to everyone in his rolodex.

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Hayek on the Risk-Taking Cycle & the Business Cycle

It’s become newly fashionable today, but Hayek has ALWAYS emphasized the existence of a risk cycle in the midst of the boom / bust cycle.  Here’s an example: “Inflation at first merely produces conditions in which more people make profits … Continue reading

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BS on Hayekian Macro from Krugman & Cowen — A Linkfest

Paul Krugman and Tyler Cowen spew ink in the water on Hayekian macro — and an army of blogosphere Davids swoop in to decontaminate.

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The Credit / Real Estate Cycle

Fred Foldvary: Recent research by economists Moritz Schularick and Alan M. Taylor have confirmed the theory that economic booms are fueled by an excessive growth of credit. They have written a paper titled “Credit Booms Gone Bust: Monetary Policy, Leverage … Continue reading

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Hayek vs Keynes

In The Independent.

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Hayek Lives

Most economists think that macroeconomic disruptions, such as the current recession, can be understood in terms of aggregate indicators such as total employment, the price level, and the money supply. But this view is misleading, particularly in the current economic … Continue reading

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