Economics

Archive for Economics

The Empirical Case Against Government Stimulus

Details here. Seriously, did I bust Krugman or did I not? I think the most a Keynesian could say after reading this is, “We have never really had a good test of our policy recommendations, in all of recorded history. But we still cling to the theory that government deficits are good for economic growth.”

European Data Bask

I am working on an op ed talking about fiscal austerity. I referred to the ECB’s June bulletin, which had listed several countries that improved their government debt position (through spending cuts) while experiencing even short-run economic growth. The editor of Reuters wants to run the piece but asked me to give more specifics about […]

“It’s Not About Personnel, It’s About Power”

[UPDATE below.] My “current events” article yesterday at Mises.org, on the Elizabeth Warren brouhaha. An excerpt: By focusing on the “controversial” pick of Warren, the government and its media accomplices subtly shift the fulcrum of the debate. People aren’t questioning whether the government should be seizing vast new powers to regulate the financial markets, even […]

This Guy Hates Pennies

I was hoisted onto the anti-penny bandwagon by my intermediate econ professor in undergrad, Lee Coppock. (At least, that is now my recollection.) I think the simplest argument for getting rid of the penny is this: Surely we can all agree that it would be dumb to introduce a new coin that was worth, say, […]

Principles vs. Judgment, or, Steve Landsburg vs. Gene Callahan

I used to be a hardcore materialist, and it was ultimately Gene Callahan who set me straight. (It’s not that he convinced me in the course of our argument, but rather that when I was ready to change my mind, all of his analysis was there for me to fall back upon. That’s why it’s […]

The Logic Behind Giving Away Book Content

In the last two months I have released my two new books as completely free, no-strings-attached PDF versions. Here is my new book (co-authored with Carlos Lara) on the relationship between Austrian economics, fractional reserve banking, and Nelson Nash’s “infinite banking concept,” and here is my new economics principles textbook aimed at middle- and high-school […]

Russ Sobel on Gangs

Russ Sobel is the featured EconLib writer this month, and his article is pretty neat. His intro: Street gangs, such as the famous Crips and Bloods, are often viewed as a cause of crime and violence. Popular media coverage on TV and in the newspapers often portrays the brutal activities of such gangs. This is […]

Robert Wenzel Charmed By Christina Romer

Ah well, we always knew RW was a pushover. He writes: WaPo’s Dana Bank reports on the remarkable departing words of the chairman of President Obama’s Council of Economic Advisers, Christina Romer. This is a must read as this honest lady lists the failures of the Keynesian economists in the White House… Normally I think […]