Did J S Mill really claim that violations of free trade have nothing to do with liberty?

‘Again, trade is a social act. Whoever undertakes to sell any description of goods to the public, does what affects the interests of other persons, and of society in general; and thus his conduct, in principle, comes within the jurisdiction of society’ … . The ‘so-called doctrine of Free Trade … rests on grounds . . . → Read More: Did JS Mill really claim that violations of free trade have nothing to do with liberty?

Keynes vs. Hayek

Freidrich Hayek and the Austrian school of economic policy argue for a laissez faire approach to the economy – emphasizing individual actions and criticizing government intervention. John Maynard Keynes acknowledged that economies could, over time, correct themselves, but argued that government had a responsibility to intervene and stimulate demand when the economy is in . . . → Read More: Keynes vs. Hayek

Recession: Keynesian or Hayekian

In the Times of India I hear is all about “infotainment”, with more information less entertainment in economic times. So as far ET columnists go hardly can one hold them the standards of an academic debate, loose ends are quite natural. But what about sheer inconsistency, or gross error?

Swami ET article today is . . . → Read More: Recession: Keynesian or Hayekian

Why Most “Respected” Economists are Pro-Fed and Anti-Gold

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 . . . → Read More: Why Most “Respected” Economists are Pro-Fed and Anti-Gold