No, Senator Sanders, the Fed Was Always a Creature of Cronyism »

Reforming the Federal Reserve can brighten the future of American democracy—but unless the reforms reflect an understanding of how and why our central bank was created, the Fed will continue to serve the interests of the privileged few at the expense of the rest of us. Regrettably, presidential candidate Bernie Sanders’ misunderstandings about the...
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Krugman Attacks Us »

When Paul Krugman starts attacking us, we know we’re doing something right. John Maynard Keynes’s presumptive heir, Krugman apparently doesn’t like the findings of our recent book edited by Research Fellow David Beckworth, Boom & Bust Banking: The Causes and Cures of the Great Recession, exposing the profound fallacies of Lord Keynes’s love affair...
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Economists Testify on Federal Reserve Before House Committee Chaired by Ron Paul »

On May 8th, five economists, including our Research Fellow Peter Klein, appeared in testimony before the U.S. House Committee on Financial Services Domestic Monetary Policy and Technology Subcommittee, chaired by Congressman Ron Paul. The panelists included two economists from the Austrian School, two Keynesians, and one monetarist: Peter G. Klein, Research Fellow, The Independent...
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Money versus Monetary Base: A Basic Yet Critical Distinction »

As more and more people have taken an interest in monetary affairs—especially in the Fed and its various operations—in recent years, many people have joined the discussions related to these matters, especially on the World Wide Web. In reading these posts over the years, in particular in reading the comments on a post I placed...
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The Economist on the Austrian School of Economics’ Relevance in Explaining the Current Crisis »

A Buttonwood column in the new issue of The Economist, “Taking von Mises to pieces: Why is the Austrian explanation for the crisis so little discussed?,” discusses the enormous relevance of the Austrian School of economics, including the work of F.A. Hayek, Ludwig von Mises, and Lawrence White in explaining the current economic crisis....
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