Tag: F. A. Hayek
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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Happy Birthday, F. A. Hayek
Born May 8, 1899, F. A. Hayek made landmark contributions to more subjects than most social scientists are even conversant in: economic theory, social-science methodology, political and legal theory, intellectual history—he had something valuable to say about all of these and more. Because so many great pieces about Hayek’s life and work have been...
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Hayek vs. Keynes Rap Video II
First performed publicly last week in New York at The Economist‘s conference, The Buttonwood Gathering, here is the sequel to the sensational rap video pitting the economic ideas of Austrian School economist F.A. Hayek against those of interventionist John M. Keynes. The original video, “Fear the Boom and Bust,” has had more than 1.5...
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“American Pie” – Altered to Lament My Life and Times as an Economist
A long, long time ago . . . I can still remember, Mainstream theory used to make me smile. And I knew if I had my chance That I could make equations dance And, maybe, they’d be happy for a while. But Joseph Stiglitz made me shiver With every paper he’d deliver. Bad news...
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Can the Dead (Capitalism) Be Brought Back to Life?
I pose this question seriously, not as a physiologist, but as an economic historian. I am provoked to raise the question by an advertisement that Amazon sent me recently, calling my attention a book titled Can Capitalism Survive? Creative Destruction and the Future of the Global Economy. Seeing this sales pitch, my immediate reaction...
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Politics, Markets, and The Housing Boom and Bust
I recently read the revised edition of Thomas Sowell’s excellent The Housing Boom and Bust. One of the most striking things about the role of housing in the financial crisis is the resonance of the “villains, victims, and valiant government” narrative that goes as follows: greedy bankers exploited everyone while the regulators were asleep...
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Nothing Outside the State: Part II
In a recent post at The Beacon, I sketched the vast expanse of economic and social life that state functionaries (at all levels and in all departments and agencies of government) reach by their direct participation, regulation, surveillance, or manipulation by means of taxes and subsidies. No such sketch, however, can convey the actual...
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Thirteen Outstanding Books of the Past Decade
http://www.amazon.com/exec/obidos/ASIN/B002RAR3KG/theindepeende-20/002-6508816-9461647
“Stimulus Package” Parallels
The “stimulus package” is to sensible economic policy as— military justice is to justice John Maynard Keynes is to F. A. Hayek “I Love Lucy” is to “Much Ado about Nothing” Pat Robertson is to Mother Teresa a shipload of gravel is to the Rock of Gibraltar Reader’s Digest is to Tolstoy’s War and...
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