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This is from the Mercatus Center’s Veronique de Rugy: We are told that austerity in Europe has failed. The elections in France and Greece, for instance, are supposedly evidence of people’s opposition to severe cuts in spending. However, the growing anti-austerity backlash against Europe ignores one fundamental point: If there is austerity in [...] Krugman-in-Wonderland When it became clear in 2007 and beyond that the housing bubble was breaking up and the bills for the national spending spree were coming due, the Bush administration shifted into “stimulus” mode. (It was nice getting an extra $2,100 in my checking account, but I defied the government and paid some bills instead [...] 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 [...] In Apple’s conference call yesterday, CEO Tim Cook disclosed that the company made a bet at the beginning of the quarter that the new iPhone 4s would be a big success and so it placed extra production orders – betting on the upside- and nonetheless found itself short of inventory as sales exceeded the company’s [...] If you thought that politics was always so dysfunctional that unfunded government spending is just the way it now is, comes news from the U.K.’s Telegraph in an article titled “Nick Clegg indicates tax rise to pay for 1 billion pound youth unemployment scheme.” A 1 billion pound plan to tackle high youth unemployment will apparently [...] It is a rare occurence here when we publish an opinion from the Wall Street Journal, but the Journal’s Stephen Moore got everything right in this piece: Why Americans Hate Economics In university classrooms—and especially the Obama White House—fancy theories of macroeconomics defy basic common sense. Christina Romer, the University of California at Berkeley economics [...] David Stockman, sometime contributor to The Daily Capitalist, advocates taxing the rich? I understand where he is coming from, but I don’t agree with his conclusions. But then, he was Reagan’s budget director and I wasn’t. He argues that with the deficit and debt approaching critical status, it is hypocritical for Republicans to not tax [...] 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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