The Sin of Wages?
This piece shows that Steven Landsburg needs a better armchair. He writes concerning an increase in the minimum wage: “Sure, you’ve lost your job. But don’t forget, this was a minimum-wage job in the...
View ArticleModern Macroeconomics
re: Modern Macroeconomics: Its Origins, Development and Current State, by Brian Snowdon (Northumbria University) and Howard R. Vane (Liverpool John Moores University), Aldershot: Edward Elgar, 2005...
View ArticleImportant Notice to All Austrian Macroeconomists
One way to become a leader in a field of study, such as macroeconomics, is to redefine the field such that people who are doing things other than what you’re doing are, by definition, in some other...
View ArticleFrom the Manhattan Experiment to the discovery of Pluto!
Compare these two paparagraphs—the first from todays WSJ and the second from my review of Bob Woodward’s Maestro: Mr. Greenspan has often reached outside economics to hone his insights, at times...
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What Does Inflation Targeting Mean?
Although Ben Bernanke has pledged to ensure a continuity between the Greenspan policies and his own, he differs in several important respects, including his endorsement of “inflation targeting.”...
View ArticleHas Card Been Misinterpreted?
Here’s an interesting excerpt from an interview with David Card by the Minneapolis Fed’s Region (December 2006). Is Card making the Austrian point that the perfectly competitive model (a.k.a. the...
View ArticleNorman Barry RIP
Norman Barry, adjunct scholar of the Mises Institute, has died. Professor Norman Barry It is with great sadness that the University has learned of the death this morning of Professor Norman Barry. As...
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That waterfall
Michael Pollaro says: “A $2.5 trillion deficit will create quite a waterfall on this graph, don’t you think?” Here is the waterfall-deficit graph (with an attitude). I created it when the projected red...
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A Rejoinder to Brad DeLong
In his dismissive response to me, Brad DeLong provides some arithmetic that supposedly weighs against the Austrian theory of the business cycle as a plausible basis for understanding the current...
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