Monthly Archives: August 2009

Undergraduate Economics For Keynes & Krugman

John Maynard Keynes never had anything like what we would call a graduate education in economics.  He was a brilliant amateur with massive gaping blind spots in his economic education — Friedrich Hayek’s well considered judgment was that Keynes had … Continue reading

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new: F. A. Hayek, “Decline of The Rule of Law, 2”

F. A. Hayek,“Decline of The Rule of Law, 2” (pdf) May 4, 1953, The Freeman, pp. 561-563.  Here’s the complete text in html: As the establishment of the Rule of Law in England was the outcome of the slow growth … Continue reading

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The Federal Reserve & US History — BS vs Reality

George Selgin weighs in: .. national bank notes had to be backed by government bonds.  That requirement, designed to bolster the Union’s finances while the [civil] war raged on, proved disastrous afterward, when government surpluses led to a halving of … Continue reading

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Obama’s Fatal Conceit

Steven Horwitz: The headlines blare that President Obama will “restructure the financial services industry” and “fix the health care crisis.” A 31-yearold with no experience in the business world, but a lot of experience in politics, has been put in … Continue reading

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