Tag: Robert Higgs
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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The EPA and Corporate Welfare: More from the Climate-Government-Industrial Complex
In a recent editorial, “The EPA’s Utility Men: Anticarbon regulations and the corporate rent-seekers who love them,” the Wall Street Journal notes that eight leading utility CEOs are cheering on the EPA’s new draconian, climate regulations and other policies because they stand to make huge profits by redistributing wealth to themselves. As the Journal...
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News Item: Nearly 100 Banks Benefiting from TARP Are on the Brink of Collapse
According to the Wall Street Journal’s Michael Rapoport (“Bailed-Out Banks Slip toward Failure”, 12/27/2010, p. C1), 98 U.S. financial institutions, which collectively were granted $4.2 billion in handouts under Washington’s Troubled Asset Relief Program (TARP), are in danger of going belly-up. The commercial banks imminently in peril, such as the Legacy Bank of Milwaukee...
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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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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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California Diesel Law Based on Gross Overestimate
The San Francisco Chronicle reports today that the California Air Resources Board overestimated pollution from off-road diesel vehicles by 340 percent. The agency had used that estimate as the basis for tighter emission regulations, adopted in 2007, that applied to bulldozers, dump trucks, forklifts, and other heavy-duty diesel machinery. Those controls halted the use...
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Congressional Democrats’ Adviser Joins Call for Regime Certainty
Joining the growing tide of those calling for an end to federal regime uncertainty, Moody’s economist Mark Zandi, a frequent adviser to Congressional Democrats, on CBS’s “Face the Nation” on the importance of quickly extending the tax cuts scheduled to expire at year end: I wouldn’t raise anyone’s taxes in 2011. I mean, I...
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“Liberal” Appeals Court OKs Warrantless GPS Tracking by Feds
The U.S. Court of Appeals for the Ninth Circuit, much ballyhooed as liberal-leaning, is joining the rest of the former so-called “liberal” wing in falling into lockstep behind ever-increasing police powers. The appeals court last week declined a defendant’s request to review drug agents’ sneaking onto his property to affix GPS tracking devices to...
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C. S. Lewis on Mere Liberty and the Evils of Statism, Part 1
For decades, some Christians, both “conservative” and “liberal,” have unfortunately embraced an ill-conceived “progressive” (i.e., authoritarian) vision to wield intrusive government powers as an unquestionable and even sanctified calling for both domestic and international matters, abandoning the Christian, natural-law tradition in moral ethics and economics. In contrast, the Oxford/Cambridge scholar and best-selling author C....
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This Week in The Lighthouse: Economic Recovery, Double-Taxing Energy, Afghanistan, Bullfighting
This week’s Lighthouse (available online here) deals with a wide variety of topics, including economic recovery (Robert Higgs), double-taxation of income of gas and oil producers (William F. Shughart II), Afghanistan (Ivan Eland), and bullfighting in Spain (Alvaro Vargas Llosa). Links to the individual items appear below: 1. How to Revive a Stagnant Economy...
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