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- Search found 3 items for:
- Other Schools of Thought
- Robert P. Murphy
- 2007
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
For some time I have been trying to defuse the hysteria over the US current account deficit (e.g., 1 , 2 , and 3 ). Using economic arguments and (I hoped) funny analogies, I tried to show that there is nothing necessarily bad about foreigners selling us more final goods and services than we sell to them. My refrain was always that yes, a massive
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
Earlier this year three Americans won the Nobel Memorial Prize in Economics for laying the foundations of “mechanism design theory.” The work of Leonid Hurwicz, Roger Myerson, and Eric Maskin was noted for its help in implementing efficient voting, trading, and regulatory schemes. The official press release made it quite clear that although the