Here (link) is the story of how decades of economic freedom prevent the unthinkable consequences of an earthquake which recently damaged Chile.

I was recently reminded of the old argument about Say’s Law, and that reminded me that it was Keynes who twisted Say’s theories around to create the ridiculous argument that supply created its own demand, which I say is a load of crap, which pretty much sums up a lot of what Keynes did, probably [...]

Though I have written extensively about the Recession of 1920, it is worth revisiting it per Glenn Beck’s show last night.  Beck rightly pointed out that the policies of decreased taxes and decreased government spending implemented by both Harding and Coolidge paved the way for the dramatic economic growth of the roaring 20s. What Beck [...]

The good folks at Icfai University Press and specifically the editor of the magazine The Analyst have queried me to answer some question on the Asian economies and their ascend to the top position (or not) of the global economy and what this means. They have shipped me some questions, given me a deadline and [...]

It’s not every evening that you are able to pack a room full of a hundred libertarians on the Upper West Side of Manhattan, let alone at the bastion of leftism that is Columbia University.  But tonight was different, as Loyola Professor and Columbia alum Walter Block was on campus, leading a spirited lecture on [...]

In NY Times, Paul Krugman (link) wrote about the comparison of European and U.S economic model, concluding that in the last 10 years, the European model of social democracy led to higher standard of living and, compared to U.S in output per hour and standard of living, and relative convergence of European countries relative to [...]

Frederic Mishkin says not all bubbles are a threat to the economy (link):
“Nonetheless, if a bubble poses a sufficient danger to the economy as credit boom bubbles do, there might be a case for monetary policy to step in. However, there are also strong arguments against doing so, which is why there are active debates [...]

In my last post I presented evidence that people in countries with relatively high growth rates tend to perceive that their lives are improving. This is one of the reasons why I reject the view that economic growth makes people unhappy and that so called ‘unhappy growth’ can explain the reluctance of [...]

1. The interest rate is a price – the price of credit like the price of any good.  In a free market the price would be set like the price of any good at the intersection of the supply of funds (our savings), and demand for funds (businesses’ and individuals’ investing [...]

In yesterday’s edition of NY Times, Paul Krugman opened a puzzling discussion on the economic performance of Europe relative to the United States (link), suggesting that the European model of social democracy is an envy for economic success compared to the U.S economy.