Why assessing business cycles using the NBER approach is questionable
Most economists are of the view that by means of economic indicators it is possible to identify early warnings regarding an upcoming recession or…
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Should forecasting accuracy determine the acceptance of a theory?
In order to establish the state of the economy economists employ various theories. Yet what are the criteria for how they decide whether…
Read MoreDo we need government to promote innovation and economic growth?
According to Mariana Mazzucato, the RM Phillips Professor in the Economics of Innovation at the University of Sussex, government is an important factor…
Read MoreWhy looking at the data without a theory cannot tell us much
For most so-called practical economists, information regarding the state of an economy is derived from the data. Thus if an economic statistic such…
Read MoreDoes the Friedman’s plucking model refute Mises’s boom-bust cycle theory?
According to an article in Bloomberg on November 5, 2019, Milton Friedman’s plucking theory seems to be vindicated. According to Friedman there appears to…
Read MoreCan easy monetary policies help to absorb idle resources?
It is widely believed that resources that are utilized in normal times to promote economic prosperity become underutilized during recessions. Some experts hold…
Read MoreThe Japanization of the European Union
The Japanization of the European Union[1] Introduction The topic of my lecture today is “The Japanization of the European Union.” I…
Read More150 years of bank credit expansion is near its end
The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of…
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It’s Coming Home this November! Event in Austrian central bank in Vienna
This will be a good one. See more here: http://austrianconference.org/
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The Austrian School Warned, the ECB Didn’t Listen
by Alvaro Martin Looking at the current situation, one can easily perceive that our economic environment is not in the best condition. The whole…
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