Monthly Archives: July 2009
Econometric Evidence Supporting Capital Based Boom & Bust Macro
Expect to see a lot more papers like these: Francis Bismans and Christelle Mougeot, “Austrian Business Cycle Theory: Empirical Evidence”, Review of Austrian Economics, Vol. 22, No. 3, (Sept.) 2009, pp . 241-257 (subscription pdf). Abstract: The Austrian approach to business cycles … Continue reading
Posted in Boom & Bust
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Hayekian Economist Gerald O’Driscoll
On the housing market: Government programs to prop up home prices have been half-hearted and ineffective overall, and mercifully so. A successful program to prop up home prices would have aborted the recovery process. It would have created an overhang … Continue reading
Posted in Boom & Bust, Relative Prices
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artificial boom: Steve Hanke July 2006
Another economist who identified what was happening prior to the 2007-2008 bust: Excessively low interest rates and excess credit have generated other distortions and imbalances. Those schooled in the business cycle models developed by Friedrich Hayek in the 1930s know … Continue reading
Posted in Boom & Bust
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paul kasriel: A Hayekian Defense of Ben Bernanke
Paul Kasriel takes on Anna Schwartz, defending Ben Bernanke’s post-bust management of the Federal Reserve: Ms. Schwartz asserts that Bernanke should not be re-nominated because of his sins of commission as well as his sins of omission. It is not … Continue reading
Posted in Secondary Deflation
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audio: Roger Garrison on Capital Based Macro
Here’s Garrison’s “Mises U.” lecture from Monday, July 27 (mp3). Watch the video with updated PowerPoint slides here, here, here, and here. Garrison adds lots of topical commentary on the current boom and bust. Great stuff. Related – a new … Continue reading
Posted in Boom & Bust, Capital Based Macro
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Barack Obama and The Fatal Conceit
A quick google of “Obama” and “fatal conceit” harvests over 16,000 links. The interpretation of Barack Obama and his government as an instantiation of what Friedrich Hayek examined in his classic book The Fatal Conceit has become one of the … Continue reading
Posted in Fatal Conceit
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