Tag: Federal Reserve

Challenge of Liberty Student Seminars—Application Deadline: March 31 »

The Challenge of Liberty Student Seminars are returning for another exciting season! Thanks to the generous support of donors, we will hold two seminars for college students — one at the University of Denver (June 16–20) and one at the University of California, Berkeley (July 7–11) — and one seminar for high-school students at...
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Stockman: Cronyism Is Destroying American Capitalism and American Democracy »

I’ve recently read David Stockman’s book, The Great Deformation: The Corruption of Capitalism in America. (You can buy it at Amazon, but it’s cheaper at the Mises Institute.) Stockman explains how cronyism has grown throughout the 20th century in America, placing much blame on the Federal Reserve, and describing how businesses have managed to...
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President Obama on Inequality: Rhetoric vs. Reality »

President Obama has recently promoted inequality as a fundamental threat to our way of life, saying, “The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American Dream, our way of life, and what we stand for around the globe.” You can read the rhetoric here. Let’s look at...
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The Independent Review—Winter Issue Now Available »

The winter 2014 issue of The Independent Review is hot off the press! This edition of the Independent Institute’s 160-page scholarly journal includes a stimulating mix of timely topics and enduring themes, including a symposium on Nobel laureate economist James M. Buchanan and classical liberalism. Read it and gain a deeper understanding of the...
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Money for Nothing: Inside the Federal Reserve »

I taught Money and Banking for 40 years at Ohio State and before that at Boston College, and never once used a movie in class. However, after viewing Jim Bruce’s new documentary, Money for Nothing: Inside the Federal Reserve last night at the Museum of American Finance, I would not hesitate to use this...
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Questions—and Answers—for Janet Yellen »

The Senate hearings to confirm Janet Yellen as Federal Reserve Board Chairwoman are likely to be held next week, according to news reports. Here are some Questions that I hope the Senators will ask her, along with what I regard as the Wrong Answers and the Right Answers. I expect that her actual answers...
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All I Really Need to Know I Learned from Reading Higgs »

Further to Bob Higgs’s earlier post, Thinking Is Research, Too!, down in Texas, the Chairman of the Dallas Fed has the odd practice of looking beyond government stats and actually (gasp!) asking real people how they think the economy is going. From a profile of the President and CEO of the Dallas Fed, Richard...
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New Book Exposes the ‘Terrible 10′ Worst U.S. Economic Policy Mistakes »

Despite enjoying impressive economic growth over the past century, Americans have also been the victims of scores of stupid government mistakes that have made them poorer. For many the blunders led only to temporary setbacks, but for others the errors created life-altering disasters from which they never recovered. In the new book The Terrible...
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Fannie Mae, Freddie Mac, and Feddie Sue: What Should We Do with Them? »

Mortgage Intermediation Mortgage intermediation is an important and legitimate business, much like grocery intermediation: In theory, urban consumers could drive to the country to buy groceries directly from farmers, or farmers could go door to door selling produce, but in practice it’s usually more convenient if farmers sell their products wholesale to intermediaries who...
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Latin America and the Fed Factor »

We recently got a glimpse of what will happen to Latin America once the Federal Reserve stops printing money like crazy. Ben Bernanke’s mere suggestion, back in May, that he might begin to slow the purchase of securities (“tapering,” in financial parlance) was enough to cause $1.5 trillion to evaporate in emerging markets as...
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