Monthly Archives: June 2009
Can someone direct me to a good Hayekian explanation of the inverted yield curve phenomena: Click to enlarge. ht Mish.
It’s impossible for a market economy to function non-pathologically when the backbone of the system — the communication transmission mechanism of money prices — is constantly short-circuited by an unworkable attempt at central planning. John Cochran explains. Quotable: A major … Continue reading
Got to love this: Obama proposes to entrust the critical job of “systemic risk regulator” to the Federal Reserve, the very organization that has proven most adept at creating systemic risk. This is like making Keith Richards the head of … Continue reading
Can microeconomics explain the current crisis? Steven Horwitz explains how it does in an outstanding explication of microeconomic explanation and its application to our current macroeconomic problems (pdf): The Austrian approach to macroeconomics can already be seen as being fundamentally … Continue reading
Scott Sumner thinks we are, but Bob Murphy gently explains that this bus won’t arrive until the Keynesians and Chicago economists acknowledge the signal fact that interest rates are prices and capital production has a price sensitive time structure: the … Continue reading
From Robert Samuelson: In theory, expanding public welfare could offset eroding private welfare. President Obama’s health-care proposal reflects that logic. The trouble is that the public sector also faces enormous cost pressures, driven by an aging population and rising health … Continue reading