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Displaying 31 to 38 of 38 files.
» 251.7 KiB - 1,625 hits - 25 May 10
The Cobden Centre is delighted to invite you to its Annual Lecture and Drinks Reception to be held on Wednesday 9 June 2010 between 6.30pm and 9.00pm at the National Liberal Club, One Whitehall Place, London SW1 (nearest tube station: Embankment).
TESTING TIMES FOR CENTRAL BANKS – IS THERE ROOM FOR AUSTRIAN IDEAS AT THE TOP TABLE?
» 308.9 KiB - 2,687 hits - 17 June 10
Central banks are facing an unprecedented test in the wake of the credit crisis. We briefly outline prevailing theoretical frameworks and argue that central bankers effectively have a choice between three separate frameworks: Vienna, Cambridge and Chicago. Despite Austrian economics being the least acknowledged we survey increasing exposure in mainstream media, suggesting a role for a more explicit use. We provide implications for policy-makers and claim that Austrian ideas have a place at the top table of policy debate.
The Critics of Keynesian Economics
» 26.8 MiB - 1,875 hits - 10 February 12
The Critics of Keynesian Economics Henry Hazlitt, ed.
The Poverty of Modern Macroeconomic Theory and Power of Austrian Business Cycle Theory
» 251.0 KiB - 1,507 hits - 10 January 11
Morgan O. Reynolds ABSTRACT: This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT). Mainstream economists remain lost in the Keynesian jungle, and economists in the vein of Irving Fisher, Milton Friedman and Martin Feldstein have not helped. The blinkered approach favored by the economics profession ignores the business cycle theory pioneered by Ludwig von Mises and deepened by successors like Murray Rothbard and Jesus Huerta De Soto. Defying standard economic theory, economists implicitly believe that artificially low interest rates (wrong prices) and debt piled on debt unbacked by real savings do no harm to resource allocation and employment. Attempts to hasten economic growth via monetary policy must prove self-defeating by seducing businesses to overinvest in higher stages of production and underinvest in lower stages. The recession is the realignment of the production structure with consumer wants. “Without a sound capital theory, macroeconomics is incomprehensible,” as Larry J. Sechrest wrote.
The Road to Serfdom - Introduction to the Definitive Edition
» 4.7 MiB - 1,357 hits - 6 July 10
Bruce Caldwell's Introduction to the Definitive Edition of The Road to Serfdom, by F.A. Hayek (PDF).
Wall of Maturing Debt: A Mid-Course Update
» 350.8 KiB - 6,684 hits - 3 February 11
Analysis by Caitlin Long at Morgan Stanley
What Happened to “Efficient Markets”?
» 462.9 KiB - 1,693 hits - 4 January 10
The financial crisis of 2008 has challenged the reputation of the free-market economy in the public imagination in a way that it has not been challenged since the Great Depression. The intellectual consensus after World War II was that markets are unstable and exploitive and thus in need of government action on a variety of fronts to counteract these undesirable characteristics. In the United States, this intellectual consensus did not result in nationalization of industry, but in detailed regulation and heavy government involvement in economic life.
Combined Evidence to Independent Commission on Banking.pdf
» 458.1 KiB - 650 hits - 9 November 10
EVIDENCE TO INDEPENDENT COMMISSION ON BANKING by John Tomlinson