Archive for Austrian School

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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Inverted Yield Curve and Recessions

The 3-month and 1-year Treasury yields have gone way up in the past year, but the overall spread (say between them and the 10-year) is still quite positive, so the classic warning of an impending recession is still not here. Here’s a long-term chart: In the chart above, the red line is the 10-year yield, […]

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Monetary Policy Views Applied to a Thermostat

If you’re trying to understand why I made this post, all I can say is that Scott Sumner went down this road. You wanna get nuts!? Come on! Let’s get nuts! * * * The curtain rises, showing six nerds in a house, all shivering and breath visibly coming out of their nostrils. BEN: While […]

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I Was Writing About the Natural Rate of Interest Before It Was Cool

As Free Advice readers know, I have had my differences with Scott Sumner. But in a recent exchange he told me: “I’d encourage you to brush up on the Wicksellian theory of interest rates, it might help you to better understand my argument.” More generally, it seems that all the cool bloggers are talking about […]

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