Nicholas Biddle was the president of the American central bank that preceded the Fed. When his bureaucratic cradle was rocked, he quickly morphed into a Machiavellian monster, writes Dan Sanchez. This audio Mises Daily is narrated by Floy
Last Monday evening, Lew Rockwell, from a tip by someone named “Travis,” posted this damning quote of Paul Krugman’s from a 2002 New York Times editorial : To fight this recession the Fed needssoaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.
J.P. Beadle, “Rearguard” As most readers will know, a collection of damning quotes has surfaced recently, exposing Paul Krugman, the doyen of the economic Left, as having been completely backward on the most material economic event in our generation: the housing bubble. My recent article on the subject, “Krugman’s Intellectual Waterloo,” has
[This Mises Daily was originally published July 22, 2009.] Paul Krugman wants to be our savior. Moreover, he wants to be a specific kind of savior: a magus of the scientific age, a blackboard prophet. The roots of this curious ambition can be seen in his recent profile in Newsweek : Krugman says he found himself in the science fiction of Isaac
The Prognostications of Ben Bernanke We now have the diametrical opposite of the famous “ Peter Schiff Was Right “ video (a compilation of 2006 and 2007 clips in which Schiff, a financial expert who subscribes to Austrian economics, predicted the deep recession that would follow the bursting of the housing bubble). The new, opposite video is a
[An MP3 audio file of this article, read by Floy Lilley, is available for download .] There is something disarming about a technocrat. While it is easy to dismiss elected officials as blustering panderers, there is something comforting in the image of the specialist civil servant toiling away with industry and equanimity. We tend to imagine such
Probably what most sets Austrian economics apart from the mainstream is the Austrian School’s careful analysis of the structure of production. When an Austrian economist considers the structure of production, he doesn’t just dwell on crude aggregates, such as the total number or total value of capital goods in an economy. Rather, he considers
Can you imagine how awesome a blog by Murray Rothbard would be? Or Mises Dailies by Mises himself? These great men were not given their full due in their lifetimes, because they were writing in the media era of the monolithic broadcast and the monolithic print run. With such a model, power and interest has a competitive advantage over truth. But
This post is one in a series entitled Posthumous Refutations . Back in 2005, Rainbough Phillips at Distributed Republic had the splendid idea of a Capitalism Appreciation Day . She walked the reader through her day expressing her appreciation for every for-profit entity that made her life more pleasant. It inspired me to do the same back then,
This post is one in a series entitled Posthumous Refutations . Previously in this series: Capitalism, Competition, Collaboration, and Kindness . Media and real estate mogul Mortimer Zuckerman has written an op-ed piece in which he tries to deflect blame from the Fed, and even proposes giving it more power. In what amounts to a double-salvo on
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.