“I started remarking against the idea of a common European currency, saying why not simply admit all the other currencies competing with yours, and then you don’t need a standard currency. People will choose the one which is best. That, of course, led me to the extension: Why confine it to other government moneys and . . . → Read More: Hayek on the Euro
Friedrich Hayek endorsed the core of ‘NGDP targeting’ 3 years before the idea was ‘first proposed‘ by James Meade in 1978:
“If I were responsible for the monetary policy of a country I would certainly try to prevent a threatening deflation, that is, an absolute decrease in the stream of incomes, by all suitable means, . . . → Read More: Hayek endorsed anti-deflationary, publicly announced NGDP targeting in 1975
Lawrence White provides an outline and preview of his remarkable new book The Clash of Economic Ideas:
Lawrence White and Doug Irwin discuss alternative explanations of the depth and causes of the Great Depression:
Lawrence White on money and free banking:
Lawrence White on transitioning to a gold standard:
. . . → Read More: VIDEO Larry White on Economics, the Great Depression & the Clash of Ideas
The hardcover editions have not yet been released, but you can now download the Kindle editions of the forthcoming Collected Works of F. A. Hayek volumes 7 & 8 — Business Cycles, Part I & II.
The Kindle edition of Hayek’s Business Cycles, Part I is $35.20 at Amazon.
The Kindle edition of Hayek’s Business . . . → Read More: Available on Kindle, Business Cycles Part 1 & 2 by F A Hayek