Monthly Archives: March 2009

debate: Who’s to Blame – Washington or Wall Street?

The audience votes Washington. Debate transcript here. (pdf) Quotable: “This symbiotic and indeed corrupt relationship between Wall Street and Washington is the thing that is rotten at the heart of the United States, it is the principal explanation for this … Continue reading

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crisis: PDFs & MP3s from the Mont Pelerin Society’s Special Session on the Global Crisis, March 5-7

Speakers include Deepak Lal, Amity Shlaes, Niall Ferguson, John Taylor, Gary Becker, Antonio Martino, Hannes H. Gissurarson, Henry Butler, John Greenwood, Martin Wolf, Timothy Congdon, Peter Boettke, Edwin Feulner, Greg Lindsay, Steve Forbes and Ayaan Hirsi Ali.  (pdf) Listen to … Continue reading

Posted in Boom & Bust, Mont Pelerin | 1 Comment

austrian vs. austrian: Schumpeter vs. Hayek on Macro

Quotable: Hayek’s position with respect to interest also grew out of Wicksell’s work. In his two major contributions to business cycles, i.e., Monetary Theory and the Trade Cycle (1929) and Prices and Production (1931), he distinguishes between two rates: the … Continue reading

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crisis: How The Fed Caused The Boom & Bust

Frank Shostak explains the case against Greenspan, Bernanke and the Fed.  Quotable: The boom gave rise to various nonproductive (bubble) activities that emerged on the back of the loose monetary stance of the Fed. The increase in money supply led … Continue reading

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prices: Hayek vs Greenspan – Steve Hanke

Economist Steve Hanke takes a fillet knife to Alan Greenspan and the Federal Reserve: If nothing else, the current financial crisis is producing mountains of material that validate the “95% Rule”: 95% of what is published or broadcast about economics … Continue reading

Posted in Boom & Bust, Federal Reserve | 1 Comment

wsj: Financial Infotainment vs Sound Economics

Thomas Frank on The Peter Principle in financial journalism: If the world of financial infotainment can itself be described as a “market,” it is a market where accountability does not seem to exist, where the heaviest of incentives seems to … Continue reading

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