I recently gave an interview to fraudedocumental.com towards their forthcoming documentary on the crisis. A good number of my colleagues in the UK and Europe will be appearing in the film: Fraud. Why the Great Recession (Official Trailer) from amagifilms on Vimeo. One of the stars is Jesús Huerta de […]
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LSE Hayek Lecture 2010: Prof Jesús Huerta de Soto
LSE Hayek Lecture 2010: Professor Jesús Huerta de Soto from Cobden Centre on Vimeo. See also his books: Money, Bank Credit and Economic Cycles (PDF, buy) Socialism, Economic Calculation and Entrepreneurship (buy)
Read MoreHonest Money and the Future of Banking
As reported by The Cobden Centre, on Thursday, Jesús Huerta de Soto gave the 2010 Hayek lecture at the London School of Economics. You can find the text of his speech here and a podcast of his preview interview here. A video will follow in due course. Yesterday, I gave a […]
Read More“The Austrian School” by Jesús Huerta de Soto
I have discovered that the IEA have relaunched “The Austrian School” by Jesús Huerta de Soto: It has become increasingly clear that interventionism played a significant role in precipitating the 2008 financial crisis. The Austrian School is more than capable of providing the free market theoretical framework needed to understand why […]
Read MoreThe manic depressive and the chronic depressive economy
A couple of quotes from De Soto, pp 456-474. From “Effects the business cycle exerts on the banking sector”: Hence we can conclude that an inherent trend in the privileged exercise of fractional-reserve banking leads to bank consolidation and encourages bankers to develop and maintain close relations with the central […]
Read MoreThe Credit Crunch Explained
An explanation of the financial crisis for everyone: Linda is the proprietor of a bar in Cork. In order to increase sales, she decides to allow her loyal customers – most of whom are unemployed alcoholics – to drink now but pay later. She keeps track of the drinks consumed […]
Read MoreBanks, economic interventionism and the cause of the credit crisis
(This post is a precis of Huerta de Soto’s Money, Bank Credit and Economic Cycles pp650-653, presenting an argument which was famously expounded by von Mises in Socialism. Among the young idealists who were attracted to socialism after the Great War, who came through these arguments expressed in full to […]
Read MoreMoney, Bank Credit and Economic Cycles
Jesus Huerta De Soto’s book, “Money, Bank Credit and Economic Cycles” arrived today, all 875 pages of it. It is, apparently: by far the most thorough treatment in print of Austrian ideas on banking and the business cycle It looks insightful already (from the preface to the second, 2001, edition): […]
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