Tag: Austrian economics

Carl Christ—Eminent Yet Sensible Econometrician and Mentor Supremo »

I transferred to the Department of Political Economy at Johns Hopkins University in 1966 to continue my work for the Ph.D. degree, which Hopkins awarded me in 1968. During my two years at Hopkins, I never took a course from Carl Christ, a highly regarded econometrician and macroeconomist there. Yet Carl turned out to...
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The “Miracle” of Kirznerian Entrepreneurship »

I learned a lot about miracles recently thanks to a penetrating sermon by pastor Mark McNees of Element3 Church, a “progressive” non-denominational church in Tallahassee. And it prompted a lot of thinking about markets and entrepreneurship, particularly entrepreneurship as conceived by Austrian economists, most notably Israel Kirzner. (Kirzner is required reading in my social...
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The Hayekian Liberty of Ender’s Game »

Finally, after much encouragement from my college freshman daughter, I just finished reading Ender’s Game, the best-selling science fiction novel by Orson Scott Card that won the Nebula and Hugo awards when it was published in the mid-1980s. The story follows the cultivation of a 6-year-old, boy-wonder, military tactician, Andrew “Ender” Wiggin, as he...
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New Online Courses on Liberty »

With the very exciting, rapid development of online learning, I am delighted that new programs to provide excellent courses in economics and history have recently been launched by scholars who have worked with the Independent Institute. 1. The first is from the historian and best-selling author Thomas E. Woods, Jr. (Senior Fellow, Ludwig von...
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Debating the Great Depression: Steve Horwitz’s Latest Contribution »

The Great Depression has been a deeply contested subject from the very beginning. After John Maynard Keynes’s General Theory became sacred writ for most mainstream economists, Keynesian interpretations generally prevailed, notwithstanding pockets of resistance among older economists, in general, and Austrian school economists, in particular. Milton Friedman and Anna Schwartz’s monumental Monetary History of...
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Regime Uncertainty—Now Maybe People Will Take the Idea Seriously »

Writing in today’s Wall Street Journal, Gary S. Becker, Steven J. Davis, and Kevin M. Murphy discuss how the government’s multifaceted efforts to “reform” health care, energy and environmental controls, financial regulation, taxation, monetary policy-making, and various other aspects of the politico-economic order have created such great uncertainty that business people are reluctant to...
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Robert Higgs on Barack Obama as Herbert Hoover’s True Heir »

Independent Institute Senior Fellow Robert Higgs is interviewed on Fox News’ “Freedom Watch with Judge Andrew Napolitano” on how Barack Obama is Herbert Hoover’s true “Progressive” heir as an economic interventionist, corporatist and protectionist. Hoover’s policies caused the Great Depression and Franklin Roosevelt then continued and greatly expanded such policies as his New Deal,...
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And Now a $700 Billion Bailout »

The Bush Administration’s proposal to ram through without any deliberation a $700 billion Treasury Department, blank-check bailout of Wall Street firms is astounding and unprecedented and would increase the federal debt ceiling to an incredible $11.3 trillion. In response, Democrats have unhesitatingly joined in as is reported by the Los Angeles Times: Democratic leaders...
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