Monetary Policy
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Lawrence H. White – What Type of Inflation Target?
“For much of monetary history, inflation targeting was unnecessary. There was no need to worry about constraining the central bank’s inflationary proclivities because no central bank existed. The quantity of […]
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“A Three-Point Plan to Save the Euro”
“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and […]
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“Senate Ends Financial-Bill Standoff”
“Lawmakers ended the three-day standoff holding up action on the financial-overhaul bill, setting up a Senate debate in which both sides will be maneuvering for advantage. The breakthrough came in […]
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What Austrian Economics Can Tell Us about the Crisis
The recent financial crisis has called into question several basic tenets of mainstream macroeconomics. In the words of William White, former chief economist of the Bank for International Settlements (BIS), […]
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“Greece’s Threat to the Euro”
“All too often in the midst of an economic and financial crisis, policymakers either engage in denial or else take flights into fantasy. Sadly, the present Greek crisis is proving […]
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“The Limits of Monetary Policy”
“History has shown that monetary stability—money growth consistent with a stable and predictable value of money—is an important determinant of economic stability. Safeguarding the long-run purchasing power of money is […]
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“The Case for Auditing the Fed is Obvious”
“Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. It has more than doubled its balance sheet, paid interest to banks on […]
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Wolf and Krugman Discuss Austrian Economics
Martin Wolf (Financial Times) and Paul Krugman (New York Times) discuss Austrian economics.
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Deflating China’s Bubble
Reining in China’s investment boom will be hard. The Chinese authorities are damned if they do and damned if they don’t.
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In a Culture of Excess, the Fat Cats will Rule
“Free market economists are not necessarily defenders of business. Crony capitalism has a long history. Mercantilism was a form of crony capitalism, and was the main target of Adam Smith’s […]
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China on a Tightrope
Economic reform requires political reform. China’s leaders must loosen control if they want harmony.
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“Academia’s War Against Free Market Money”
“In a confrontational and much-needed LewRockwell.com article, Prof. William Anderson launched a counter-attack against mainstream academic economists’ refusal to consider seriously the Austrian School’s theory of money. Despite the fact […]