Steve Baker (Wycombe) (Con): When I came to the House today, I expected to hear a great deal of Keynesian argument and I have not been disappointed. I am sorry that the hon. Member for Great Grimsby (Austin Mitchell) is no longer in the Chamber, as I wanted to congratulate […]
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Mark Prisk MP, Hayek and Mises
Via Business Minister Mark Prisk wants to strip away the red tape – Telegraph: Friedrich von Hayek is a controversial choice as a pin-up. But a signed pamphlet that the Austrian-born economist wrote in 1980 entitled “Full employment at any price” is proudly framed on Business Minister Mark Prisk’s wall. […]
Read MoreHayek v Keynes
Via www.zerohedge.com and econstories.tv, the choice in economics explained through the medium of music: See also Banks, economic interventionism and the cause of the credit crisis Now it’s looking like V for victory over recession
Read MorePresentations of capital-based macroeconomics
Though not for the faint-hearted, this first-class Powerpoint presentation of capital-based macroeconomics — based on Roger Garrison’s “Time and Money” — provides helpful animations explaining how the structure of production changes in response to saving and investment. It shows how malinvestment and overconsumption arise. The original home of these presentations […]
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 MoreBankrupt Britain: 340 people go bust every day – Times Online
A human tragedy unfolds: BRITAIN is facing a bankruptcy timebomb with a record number of individuals and companies predicted to go bust this year. Begbies Traynor, the insolvency and restructuring group, reckons more than 35,000 firms could go under this year – equivalent to more than 95 a day. The […]
Read More“The Pretence of Knowledge”: how economists come to make astrologers look good
(Update: This post is attracting significant traffic, so I have indicated three Austrian-School primers throughout the text. Please click the images for the publications.) It seems everyone is talking about swine flu and the financial crisis, but they seem to be most persistently interested in what has gone wrong with […]
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 MoreA Free-Market Monetary System
An interesting, if out-there, read from Hayek in 1977: When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort of bitter joke, that there was no hope of ever again having decent money, unless we took from government […]
Read MoreGordon Brown to woo religious voters for next election
Labour’s period in office is becoming a parody of Hayek’s “The Road to Serfdom”. Which special interest group is next for favour? read more | digg story
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