Archive for Business cycle

BMS ep. 67: Walter Block and Bill Barnett Critique the Hayekian Triangle

Here is the standard audio, and I’m now experimenting with releasing select episodes on my YouTube channel:

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Deep Thoughts on Capital Theory

In the latest Bob Murphy Show I talk to Nicolas Cachanosky about his work (often with Peter Lewin)…

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Response to Selgin on Fractional Reserve Banking and the Business Cycle, Part I

George Selgin has a 3-part series (I, II, and III) at Alt-M taking people (like me) to task for claiming that FRB per se causes the boom-bust cycle as described by Mises/Hayek. To be clear, George is putting aside the issue of whether FRB is fraud, and is just focusing on the economics. (He thinks […]

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A Note on Stock Market Volatility

So if I promise to criticize myself, can I get a blogging gig at EconLog? I understand the Efficient Markets Hypothesis, and I think it’s a very good way to take a first crack at the markets. The thing that annoys me about many EMH proponents is that they think they are being empirical and […]

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Chinese Stock Market Crashing

Details here. It’s down about 25% in the last two weeks, and 11% in the last two days. Meanwhile, Scott Sumner is running victory laps, over those broken records who called it a “bubble” but didn’t give the precise timing. (See the P.P.S. in his post.)

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Stock Market Still Utterly Dependent on Easy Money

The Fed’s announcement today sent stocks soaring. From a CNBC story: U.S. stocks surged on Wednesday, with the Dow marking its best session of the year, as investors celebrated a rally in the energy sector and the Federal Reserve’s pledge to be patient in raising interest rates. Stocks rose after the Federal Reserve retained the […]

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The Fed Chairs Have a Habit of Hazing

As I make clear in my recent interview with Tom Woods, I think that Bernanke painted himself (and the US economy) into a corner, then handed the paintbrush over to Janet Yellen. In case I sound “paranoid,” let’s review our history: ==> Paul Volcker took over as Chair of the Fed in August 1979. A […]

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More Than You Ever Wanted to Know About Inventory Adjustments in GDP Accounting

Whether it’s government debt-burdened grandchildren, marginally productive capital, or inventory adjustments in GDP accounting, I don’t rest until I have resolved the issue to my own satisfaction–even if the rest of the world has moved on by that point. Anyway, drawing on a neat idea from “Transformer” in the comments here, I discuss this issue […]

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