For those wanting a primer on QE and its effect on the value of currency, I recommend that you read John Hussman’s article. As a teaser, Hussman had this to say about Ludwig von Mises and Ben Bernanke regarding their views on inflation/devaluation: My impression is that Ben Bernanke has [...]
Econ 201
 Keynes and His Influence by Gary NorthA rather interesting lecture as to Keynes’ influence. According to North, Samuelson was more responsible for the popularization of Keynes than Keynes himself. Starts slow, but becomes interesting and optimistic when the internet is dealt with as a force that cannot be stopped. A lecture by Gary North. (approx. 55 [...] |
 Economic Understanding as the Basis for Liberalism and Conservatism“The single most important proposition in economic theory, first stated by Adam Smith, is that competitive markets do a good job allocating resources. Vilfredo Pareto’s later formulation was more precise than Smith’s, and also highlighted the dependence of Smith’s proposition on assumptions that may not be satisfied in the real [...] |
 Keynesian Economics ExplainedMark W. Hendrickson wrote a piece on Keynesian Economics in American Thinker today. It is an excellent read for fans or opponents of Keynes. Even better for those who want to learn, or refresh, some economics. In the piece he discusses the following four topics: 1) Thralldom to the Keynesian [...] |
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 The Great Depression — Revisiting the PastPeriodically, I include older articles that are pertinent to what is happening now. Here is one that about the Great Depression and the New Deal. I believe it has historical and current relevance. Myths of the New Deal By Burton W. Folsom Jr. • August 2002 • Volume: 52 • [...] |
 Where Keynes Went WrongAnyone following this site knows that I believe that Keynesian economics, especially as practiced by the political class, is wrong. In effect, during the 1930s we jettisoned sound economics and shifted to an incorrect paradigm that has been in force since. The application of this “medieval witchcraft” enabled governments to [...] |
 The Anatomy of a MBS from Goldman SachsThis article appeared in Fortune. For those unfamiliar with mortgage-backed securities and the disgraceful behavior of the parties involved, it is a simple and sickening microcosm of what was happening on Wall Street. Junk mortgages: It just gets worse In 2007 we dissected one toxic issue. The horror story continues, [...] |
 David Malpass: Economics Yes; Politics NoDavid Malpass has written an outstanding article in the Wall Street Journal. He details how the Fed’s low interest rate policy is adversely affecting capital allocation, creating what the Austrian School of Economics would call malinvestment. His analysis is microeconomic-based as opposed to the macroeconomic nonsense so prevalent today and [...] |
 Econ 201: Edmund Phelps CommentsIn a Financial Times piece, Edmund Phelps, Nobel laureate in Economics in 2006 states: The gravest error of the phony debate between two non-starters is that their superficial and mechanical character – the clockwork of the neoclassical system and the hydraulics of the Keynesian one – operate to distract policymakers [...] |
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