Monthly Archives: March 2012

F. A, Hayek vs the Efficient Markets Hypothesis

Posted on March 25, 2012 by Greg Ransom

“The general fact that booms have always appeared with a great increase of investment, a large part of which proved to be erroneous [is part of the basis for asserting that expectations regarding the future can be systematically mistaken].” — … Continue reading →

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Hayek on the Fed & the Great Depression

Posted on March 24, 2012 by Greg Ransom

From a 1977 interview: ” I think it is certainly true that ending an inflation need not lead to that long-lasting period of unemployment like the 1930s, because then the monetary policy was not only wrong during the boom but … Continue reading →

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Bust Unveiled in Peru

Posted on March 22, 2012 by Greg Ransom

Read the story here.

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Hayek’s Capital Theory Re-Constructed in Mathematical Model Form

Posted on March 19, 2012 by Greg Ransom

The paper can be downloaded here. ABSTRACT — “Myopia and Optimal Growth: A Rational Reconstruction of F.A. Hayek’s Capital Theory” by Arash Molavi Vasséi, U. of Hohenheim: This paper provides a systematic translation of F.A. Hayek’s informal exposition of capital … Continue reading →

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Stephen Williamson’s “New Monetarism” = F. A. Hayek’s Monetary Economics in a New Bottle with a New Label

Posted on March 18, 2012 by Greg Ransom

Let’s compare Stephen Williamson’s account of “New Monetarism” with Hayek’s account of the expansion and contraction of the supply of various types of monies, near monies, shadow monies, and money-substitute assets of changing liquidity. Here’s Williamson: A New Monetarist thinks … Continue reading →

Posted in Monetary Theory | 3 Comments

VIDEO: Nicolai Foss on Hayek & Austrian Capital Theory

Posted on March 11, 2012 by Greg Ransom
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