Posts Tagged ‘ economics ’

Is the bond crisis inevitable?

January 2, 2011
posted by

Human Events
by Patrick J. Buchanan  

"With Christmas shoppers out in force and the stock market surging to a two-year high, talk is spreading that the long-awaited recovery is at hand. Perhaps. But gleaning the news from Europe and Asia as U.S. cities, states and the federal government sink into debt, it is difficult to believe a worldwide financial crisis that hammers governments, banks and bondholders alike can be long averted." (12/31/10)

http://www.humanevents.com/article.php?id=40909  

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Financial regulation questions

December 30, 2010
posted by

EconLog EconLog
by Arnold Kling  

"1. Is it more dangerous for TARP to succeed or to fail?" (12/29/10)

http://econlog.econlib.org/archives/2010/12/financial_regul_3.html  

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The theory of the firm and country by country reporting

December 30, 2010
posted by

Adam Smith Institute Adam Smith Institute
by Tim Worstall  

"The one hundreth birthday of Ronald Coase seems to be a suitable time to consider what his theory of the firm means for a modern proposal: that for country by country reporting." (12/30/10)

http://tinyurl.com/34c25lx  

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Can culture generate spontaneous order?

December 29, 2010
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Bruce Edward Walker  

Review of Literature and the Economics of Liberty: Spontaneous Order in Culture, edited by Paul A. Cantor and Stephen Cox: "A valid question for the creators and critics: What provides the best economic model to ensure the happiness of the seven billion inhabitants of this earth? And what of the billion or more characters inhabiting our planet's literature? This is the theme pursued by Paul A. Cantor and Stephen Cox in their collection of brilliant essays in the economics of literature and liberty." (12/29/10)

http://mises.org/daily/4908  

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The illusion that makes the math look nice

December 28, 2010
posted by

The Libertarian Standard
by Wirkman Virkkala  

"Perhaps the greatest contribution of socialism to economics was to cajole Austrian economists into understanding just how different their theoretical approach was from the main stream of economics. At first, Ludwig von Mises and F.A. Hayek thought they were on the leading edge of that main stream. But the two major debates that they engaged in in the first half of the 20th century — over business cycle theory and regarding calculation in the socialist society — both proved vexing. They should have won both debates. They had the better arguments. But in both cases the majority of economists sided against Mises and Hayek. And in both cases it was, in a sense, over equilibrium theory." (12/27/10)

http://tinyurl.com/2el8nsn  

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Government should not be in the business of preventing price gouging

December 28, 2010
posted by

Show-Me Institute Show-Me Institute
by Christine Harbin  

"Changes in price are important for allocating scarce resources. This is why the price for plywood increases during hurricanes — individuals living in disaster-ridden areas have a higher demand for plywood than, say, a person building a treehouse elsewhere in the country. Because the former individual has a more critical need for the resource, he or she is willing to pay more for it. Those who think that the price has grown too high will refrain from buying the product, which leaves more available to be purchased by those with a higher willingness to buy." (12/27/10)

http://www.showmedaily.org/2010/12/government-should-not-be-in.html  

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Rise of the free-market zombies

December 23, 2010
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Robert P. Murphy  

"For his Sunday column, Paul Krugman wrote a piece titled 'When Zombies Win.' Krugman claims that 'free-market fundamentalists' — including Ron Paul — have been successful politically, despite being thoroughly discredited by recent events. As we'll see, it's a good thing that these ideas of shrinking government refuse to die, no matter how often Krugman attacks them." (12/23/10)

http://mises.org/daily/4928  

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Austrian economists predicted the housing bubble

December 23, 2010
posted by

Campaign For Liberty Campaign For Liberty
by Walter Block  

"I think it is very important that we keep track of, and thank, the Austrians who predicted the housing bubble. Let this signal contribution of the praxeological school never fall down that proverbial memory hole. Why do I say this? For one thing, to give credit where credit is due. All too often, mainstream economists take credit for all and sundry; it is time, it is long past time, that some credit be publicly accorded to Austrian economics and its practitioners, and predicting the housing bubble will do quite well as one small part of these accomplishments." (12/23/10)

http://www.campaignforliberty.com/article.php?view=1257  

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The future of behavioral economics: A conjecture

December 23, 2010
posted by

David Friedman Ideas
by David Friedman  

"Conventional economic theory is based on the assumption that individuals act rationally. Behavioral economics modifies that by trying to take account of various observed patterns of predictable irrationality. A recent post of mine on a different blog discussed my somewhat mixed views of the project. Thinking further on the subject, a conjecture about the future of behavioral economics occurred to me." (12/22/10)

http://bit.ly/ijIFP3  

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Why Credit Deflation Is More Likely than Mass Inflation

December 23, 2010
posted by

Libertarian Papers
by Vijay Boyapati  

"This article provides an Austrian overview of the inflation versus deflation debate which has captured the attention of the economics profession in the years following the US housing bust." [abstract -- full paper available as PDF or MS Word download]

 

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What is the current state of economic science?

December 22, 2010
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Erwin Rosen  

"What is the current state of economic science? In two words, 'not good.' This is evident in the poor performance of the economics profession during the current financial crisis. Few economists saw it coming; once it started, its severity caught them by surprise; and now it is apparent that there is no agreement among them on how to end it." (12/22/10)

http://mises.org/daily/4886  

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Market fundamentalism

December 22, 2010
posted by

Liberale et Libertaire
by dL  

"Conservatives are supply-siders; they are not market fundamentalists. If they were, then we would have legal drugs and prostitution. In many respects, the application of an Efficient Market economic analysis to law is anathema to the conservative mind. Frankly, these days, 'market fundamentalism' as technically understood, is dead. No one takes seriously anymore an Efficient Market Hypothesis applied to political economy. Market Fundamentalism now only survives as a straw man term." (12/22/10)

http://rulingclass.wordpress.com/2010/12/22/market-fundamentalism/  

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How much faith should we put in Keynesian models?

December 20, 2010
posted by

Campaign For Liberty Campaign For Liberty
by Robert Murphy  

"Jim Manzi is a private-sector expert in statistical analysis. ... Lately, Manzi has been challenging mainstream economists to defend their models, which tout the benefits of fiscal and monetary 'stimulus.' Manzi has repeatedly asked why he should put any faith in the predictions of these models." (12/20/10)

http://www.campaignforliberty.com/article.php?view=1251  

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