Tag: Great Depression

Anna Jacobson Schwartz (November 11, 1915–June 21, 2012) »

Anna Schwartz was one of the best economic historians of the past century. With Milton Friedman, she wrote (among many other works) that century’s most influential economic history book, A Monetary History of the United States, 1867-1960 (1963). Although not an economic theorist of Friedman’s caliber, she was a fine economist in her own...
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France and Greece Move Left »

Now that France’s incumbent President Sarkozy has been defeated at the polls by socialist candidate M. Hollande, Americans should have gotten a wake-up call. Angela Merkel now seems to be the only voice of European reason in the rising popular tide against budgetary austerity and a return to the by now old-fashioned idea that...
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The Naked Truth about Your Government »

Robert Higgs Exposes Delusions of Power Why have so many Americans abandoned the Jeffersonian principle that the best government is that which governs least? In his new book, Delusions of Power: New Explorations of the State, War, and Economy, Independent Institute Senior Fellow Robert Higgs suggests that part of the reason is that we...
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New Book Examines the History and Folly of Bank Bailouts »

No issue during the recent financial crisis aroused more passion than the bailouts of large banks and other financial institutions. Polls conducted during the peak of the crisis in September 2008 revealed that the American public overwhelmingly objected to the bailouts. Yet, although numerous books and articles have reported on the crisis, few have...
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Robert Higgs Is Interviewed on The Peter Schiff Show on the Folly of Government Interventionism »

Senior Fellow Robert Higgs is interviewed here by Thomas Woods on “The Peter Schiff Show.” Dr. Higgs discusses how the federal government prolonged and deepened the Great Depression of the 1930s that lasted until after World War II when such policies were either ended or radically reduced. Moreover, the current attempts at central-government planning...
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Uncertainty and Unemployment »

While last week’s news of the unemployment rate falling to its lowest in more than two years was very welcome, as the Wall Street Journal pointed out: ...the main reason for the big drop in that number and the fall in the jobless rate wasn’t more people working, but fewer people looking for work.......
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A (Brief) Critical Review of “This Time is Different” »

Eastern bloc economists Carmen Reinhart, she of the University of Maryland, and Kenneth Rogoff, he of Harvard, have gotten rave reviews for This Time is Different: Eight Centuries of Financial Folly, published in 2009 by Princeton University Press. I started reading it today, now that the book is out in paperback. It didn’t take...
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Internet Taxes »

The following updates a column published in the Utah Statesman on September 14, 2011: Proposals to allow the collection of taxes from consumers making purchases online are like vampires or zombies. They apparently cannot be killed unless stakes are driven through their hearts or their heads are blown off. I don’t know how to...
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Important New Evidence on Regime Uncertainty »

When I introduced the concept of regime uncertainty in 1997, attempting to improve our understanding of the Great Depression’s extraordinary duration, I anticipated that many people—especially my fellow economists—would not welcome this contribution. Their primary objection, I ventured, would be that the concept remained too vague and, most of all, that it had not been...
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Global Regime Uncertainty »

Dr. Brendan Brown, Head of Economic Research at Mitsubishi UFJ Securities International (London), recently cited Senior Fellow Robert Higgs‘s work on regime uncertainty—both as the cause of the prolongation of the Great Depression as well as today’s economic malaise—suggesting that his premise could well be expanded to explain today’s global economy. In his Economic...
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