Archive for Austrian School

Murphy vs. the Market Monetarists

It is a dirty rotten lie when people say I just go after Krugman. In my latest for Mises.org, I have a long critique of Scott Sumner and Kevin Erdmann’s narrative of the housing boom/bust. An excerpt: On the face of it, Erdmann is trying to demonstrate that if we use an objective measure, then […]

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Further Thoughts on Fractional Reserve Banking and Simple Theft

Again, it looks like I’m loading the deck by saying “FRB is like a mugger,” but that’s not the motivation for this analogy… If you haven’t already read it, you should check out my previous post, where I set up a thought experiment to work through the mechanics of FRB, and how it might (or […]

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Bursting Erdmann’s Bubble

[EDIT: I’ve added Erdmann’s second graph below.] In a previous post I was talking about Austrian business cycle theory and the housing bubble. Kevin Erdmann thought he blew us up by posting these two charts:   and Erdmann asked, “Would anyone care to make an ABC interpretation of those two graphs? Did low rates cause […]

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Where Monetarism Goes Wrong

Jeff Deist had me on “Mises Weekends” to talk about Vienna vs. Chicago. Speaking of which, we’ll be in Chicago next week, and then Seattle.

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Why Does Freedom Work?

This was my talk at the Independent Institute event in San Fransisco in April. What’s new here is my opening discussion of Carlos Lara.

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The Continued Importance of Austrian Capital Theory

I can’t remember if I pushed this before? Anyway this was the talk I gave last August in Rosario, Argentina. Keep in mind for my opening joke routine that people in the crowd needed to hear the translators, since many of them didn’t speak English. That’s why I had to sloooooow it down.

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Did Hayek Favor Targeting NGDP?

I think I may have blogged about this before, but hey, if I can’t quite remember, maybe you guys can’t either. (Plus, there could be new readers.) Sometimes I see people claiming that Hayek supported NGDP targeting, or perhaps that Hayek’s preferred monetary regime would mimic NGDP targeting. I am by no means a Hayek […]

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Hayek Would Be 117 Years Young (Yesterday)

My article in the American Thinker. An excerpt: This emphasis on dispersed knowledge was one of Hayek’s key contributions to the debate over socialism during the 1930s. Specifically, Hayek argued that one of the key functions of private property and market prices was to allow individuals to communicate information to each other in an economical […]

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