The Credit / Real Estate Cycle

Fred Foldvary:

Recent research by economists Moritz Schularick and Alan M. Taylor have confirmed the theory that economic booms are fueled by an excessive growth of credit. They have written a paper titled “Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870–2008″ (, published by the National Bureau of Economic Research.

A . . . → Read More: The Credit / Real Estate Cycle

The Making of an Ex-Democrat

Journalist / blogger Stacy McCain fields a few questions.  This part caught our attention:

Q. Mr. McCain, how would you describe your political foundations, such as your economic, social and national defense leanings?

A. To begin with, I’m an ex-Democrat. As far as I’m concerned, anything that is good for the Democratic Party is bad . . . → Read More: The Making of an Ex-Democrat

1,000,000 Views — Hayek vs Keynes Rap

Watch the video on YouTube and find other links here.

Hayek’s Book List

The books that influenced Friedrich Hayek:

1.   (tie)  Carl Menger’s Principles of Economics.   HTML version here.  PDF version here.

1.  (tie)   Carl Menger’s Investigation into the Method of the Social Sciences.  PDF version here.

2.   Ernst Mach, The Analysis of Sensations.  Google Books version here.

3.  Walther Rathenau’s The New Society.  Google . . . → Read More: Hayek’s Book List

#261 Among All Books Sold at Amazon

F. A. Hayek’s The Road to Serfdom is making another run on the Amazon bestseller list.

Glenn Beck vs “Social Justice”

Friedrich Hayek’s famous attack on the political vision behind the concept of “social justice” has been taken up by Glenn Beck, on his Fox News broadcast.  Here’s a taste of Beck.

More postings on Hayek and “Social Justice” here.

UPDATE:  More Beck here and here.

Hayek, Healthcare & the Rule of Law

Gary Wolfram weighs in.

AUDIO: New Hayek on Audio

The Foundation for Economic Education has put up some new audio of Hayek speaking on law, socialism, and intellectuals from the early 1960s, now collected as part of the “Taking Hayek Seriously” audio collection:

“Hayek on ‘Meet the Press’” (mp3)

Hayek interviewed by John O’Sullivan

Hayek talk at FEE on law versus legislation.

Hayek at . . . → Read More: AUDIO: New Hayek on Audio

Meltdown – What Would Hayek Say?

Bruce Caldwell speaking at the Heritage Foundation on Hayek and the America meltdown.

UPDATE: I’ve found a PDF text version of Cadlwell’s talk titled “Ten Mostly Austrian Insights for These Trying Times”.  This is just an outstanding general introduction to Hayek’s political economy — I can’t recommend it highly enough.

Here are the section . . . → Read More: Meltdown – What Would Hayek Say?

VIDEO: _The Road to Serfdom_ on C-SPAN

Here are two excellent C-SPAN videos on F. A. Hayek’s mega-seller The Road to Serfdom.

Historian Bruce Caldwell discusses his new edition of F. A. Hayek’s The Road to Serfdom on C-SPAN. The Great Books Council of Delaware has a reading group discussion on Hayek’s The Road to Serfdom, with a special introduction featuring Lanny . . . → Read More: VIDEO: _The Road to Serfdom_ on C-SPAN

Closing in on 1,000,000 views

It’s a YouTube sensation — the Keynes vs. Hayek Rap:

Justin Wolfers – Hayek is a Serious Influence on My Own Work

I don’t think I’m going too far out of school if I report that Justin Wolfers in personal correspondence has identified F. A. Hayek as a serious influence on his own work in economics.  Perhaps we shouldn’t be surprised then that Google Scholar identifies 328 publications jointly referencing the work of Wolfers and Hayek.  Which . . . → Read More: Justin Wolfers – Hayek is a Serious Influence on My Own Work

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Random Quote

Modern economics has not really done its job in making it clear to the public that the price system is the indispensable condition not only of our wealth but of the survival of a large part of the population of the world. — F. A. Hayek

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