Monthly Archives: February 2009

fed: Another Federal Reserve Governor’s mea culpa

This time it’s Sue Bies:  “I realize, and I think some of the other folks realize, that we probably raised rates too slowly.” More: Bies said the bigger problem was lenders granting mortgages to people without the means to repay … Continue reading

Posted in Boom & Bust | 1 Comment

book: John Taylor, Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

Buy it now from Amazon.  Ships Wednesday. Recommendations for John Taylor’s Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis: “This short volume does a masterful job of tracking the stunning financial market and … Continue reading

Posted in Uncategorized | Comments Off on book: John Taylor, Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis

article: Ebenstein on Hayek & the Fed’s boom / bust

Quotable: “Let us focus first on the Fed, since it is the main culprit in the current mess .. The federal-funds rate, the Fed’s favored tool for influencing the economy, stood at 6.5 percent in early 2001–in hindsight, excessively high. … Continue reading

Posted in Uncategorized | Comments Off on article: Ebenstein on Hayek & the Fed’s boom / bust

quote: Churchill on Profit & Loss, Risk & Responsibility

Quotable: “When losses are made, under the present system those losses are borne by the individuals who sustained them and took the risk and judged things wrongly, whereas under State management all losses are quartered upon the taxpayers and the … Continue reading

Posted in Road to Serfdom | Comments Off on quote: Churchill on Profit & Loss, Risk & Responsibility

book: Hayekian Macro — #15 at NY Times, #4 at Amazon

Tom Woods’ new book Meltdown is currently #4 on the Amazon Nonfiction Bestseller list and will enter the NY Times Bestseller list this weekend at #15. Tom provides a readable account of Hayekian macro and uses that framework to explain … Continue reading

Posted in Boom & Bust | Comments Off on book: Hayekian Macro — #15 at NY Times, #4 at Amazon

podcast: The Hayek-Knight Entrepreneur

Local knowledge, tacit understanding, and the Hayek-Knight entrepreneur vs. Schumpeter’s vision of the entrepreneur as hero and the Neoclassical vision of the entrepreneur as math function — a conversation with economist Amar Bhide. Highly recommended.  I particularly enjoyed the discussion … Continue reading

Posted in Entrepreneurship, Local Knowledge | Comments Off on podcast: The Hayek-Knight Entrepreneur