Bernanke's Playbook
In the National Football League, a marginal player dreads the request that he report to the coach and bring his playbook. He figures he is going to be cut from the team. The coach makes sure the playbook does not leave with the player.
Deflation and Liberty
It is my great pleasure to see this little essay in print. Written and presented more than five years ago, it was welcomed at the time by scholars with a background in Austrian economics. However, it was not understood and was rejected by those who did not have this background.
Producer Prices Plunge
If anyone doubts that there was a sea change in overall economic conditions from the summer, one only has to look at the recently released report on producer prices.
Mystical Prime Minister of Finance views abyss
Last November, I introduced in this space my Prime Minister of Finance, who has repeatedly warned of financial crisis. Our current troubles may differ in some details from the minister's predictions, but he was surely right that trouble was brewing.
Letters to the Editor
Readers write about whether President-elect Obama can become another FDR and if he can, whether or not he should.
The Economics of Destutt de Tracy
Antoine Louis Claude Destutt de Tracy (17541836), a French philosopher and economist, is worthy of attention as a contributor to French liberal thought in the tradition of Condillac.
Some weeks ago, in an editorial about the financial crisis in the main section of this paper, a writer commented
approvingly that: "Our currencies are no longer tied to gold, which means central banks can act to mitigate monetary deflation and interrupt the deadly feedback loop of mounting defaults, declining real wages and prices and increasingly onerous dollar-denominated debt. ...
The Force Is With Us
It is a marvelous thing to see the market work, in good times and bad. Just look at the way that marvelous, unplanned barometer of wise resource use the price system has reacted in response to the human reality of economic downturn.
Bag the Fed!
Despite its name, the Federal Reserve System is not owned by the federal government. It is actually a private company of bankers with 12 branches or central banks that expand and contract our money supply as they have doing for nearly 100 years.
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