Macro Claus Wishing You A Merry Christmas

This wonderful video was produced by John Papola who produced the Fight of the Century (Hayek v. Keynes) videos with Russ Roberts. Here he gives us a Christmas gift on the fallacy of consumption as the road to wealth and prosperity. Enjoy!

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Hayek vs. Keynes Rounds 1 and 2

I have featured these videos before, but for those of you who haven’t seen them, this is a very fun look. Russ Roberts, an econ professor at George Mason University and well-known Hayekian, put these two videos together with producer John Papola to popularize Austrian economic thought and to contrast it with Keynesian economics. The [...]

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Criticism Of Faith-Based Economics

This quote was “borrowed” from Cafe Hayek this morning. It is from Roger Farmer, head of UCLA’s Econ department, out of his book, How the Economy Works:

Keynesian economists in the Obama administration and their supporters in academia and in the media have not provided an internally consistent theory that explains why the free market [...]

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Industrial Production Declines–Again

Lest I be accused of confirmation bias, cherry-picking data, or curve-fitting to prove my point about our stagflationary economy, I wish to say that I don’t make this stuff up. These data are real.

My Austrian epistemological foundation tells me to first come up with a correct theory and then try to examine relevant data to [...]

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Mises v. Hayek v. Boudreaux

Recently Cafe Hayek’s Don Boudreaux put up a list of his top ten economists. There was one glaring omission: Ludwig von Mises. I was absolutely bowled over by this. He mentions a lot of fine economists, with Friedrich von Hayek his number one choice. When asked about Mises he says:

Don: Mises has just never [...]

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In Praise of Theory

This is an article I did for a local newspaper for which I write a regular column on economics. Size limitations required the article to be very concise, thus a philosophical treatise on theory, epistemology, and intellectual trends was not possible. But I think it came out well. What do you [...]

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Keynes vs. Hayek: The Great Debate Continues

This Wall Street Journal article by Gerry O’Driscoll at Cato reveals a fascinating bit of history where Keynes and Hayek actually duked it out through the page of the Times of London in 1932. I think you will enjoy this. I, of course, stand with Hayek.

Keynes vs. Hayek: The Great Debate Continues

Newly discovered [...]

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Mr. Fixit

By Jeff Harding

I am on my high horse right now. Refreshed after a week off I come back to an economic mess. And I’m angry. I like to think that I’m an optimist. That attitude has been difficult to maintain with the news out of Washington. Nouriel Roubini claims he’s not “Dr. Doom,” just [...]

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Bernanke: A Stunning Revelation

By Jeff Harding        

Fed Chairman Ben Bernanke gave a startling commencement address for the Boston College School of Law Class of 2009 this week. He admitted an apparent turnabout of his fundamental views of economics. No news media picked up the significance of what he was saying.

After the introductory and [...]

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