To partisans of the Austrian theory of the business cycle, the cause of the current financial crisis is as plain as day — and that’s why we’ve been predicting it for years. You would think that the neo-Keynesians, monetarists, and Marxists who made fun of us Austrians in 2006 and 2007, and said we’d never [...]

Future generations will look back upon the financial crisis of ‘08 as the most sensational “whodunit” of the young century. Was the Bush administration behind it all? Or was it the Democrats and their beloved Community Reinvestment Act? Were greedy Wall Street bankers and financial speculators to blame? Or was it Alan Greenspan and the [...]

On October 13, it was announced that controversial New York Times columnist Paul Krugman had been awarded the “Nobel” prize in economics. Yes, “Nobel” appears in quotes for a reason. That’s because, unlike the other Nobel prizes which were established by inventor and philanthropist Alfred Nobel, the “Nobel” prize in economics was established (and funded) [...]

At a most appropriate time, Sukrit asks:

What is the difference between the Austrian business cycle theory and monetarism, and which one do you think is a more accurate description of how the economy works?

The first part is fairly easily explained, since much material is written on both. The second part is much more difficult [...]

To the surprise of most observers, Ron Paul - who claimed he would stay neutral between the presidential candidates of the Constitution and Libertarian parties - endorsed the Constitution Party’s Chuck Baldwin in a blog post made on September 22. Baldwin acknowledged and accepted the endorsement the following day.
Paul, whose candidacy brought together people from [...]

Economically speaking, the Democratic and Republican conventions were exercises in massive self-delusion. Barack Obama and his party acolytes bragged about how they would spend money we don’t have (we’re $10 trillion in the hole, by the way), and McCain and the Republicans promised to balance the budget, strengthen the dollar, and close the $70 trillion [...]

Since I wrote my most recent article about the economic and fiscal views of the “third-party” presidential candidates - Ralph Nader, Cynthia McKinney, Chuck Baldwin, and Bob Barr - I thought I’d use my blog to highlight a U.S. Senate candidate with an Austrian economics-friendly platform. His name is Scotty Boman, and he’s a Libertarian [...]