Thursday, 22 February 2018

Monthly Archives May 2010

Europe’s Political and Economic Crisis

May 8, 2010
in Blog

Some interesting news items this week on the European crisis: A “wild week” (Financial Times) “Fears of eurozone sovereign risk contagion to banks, tighter monetary policy in China and surprise intraday selling by electronic trading systems united to deliver the worst week for global equities since the height of the financial crisis.” “For investors, the […]

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Hayek’s Contribution to Monetary Theory

May 8, 2010
in Blog

“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason, all those who wish to stop the drift toward increasing government control should concentrate their efforts on […]

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Another Financial Crisis in the Making

May 7, 2010
in Blog

World-wide stock markets plunged yesterday as the ongoing sovereign debt crisis in Europe is worsening. The Dow fell 1000 points–its worst ever intraday drop–before rebounding, but still ended down more than 3 percent (as did the S&P 500 and Nasdaq). Other factors played into this incident as well–a mistaken sell order from Citigroup, unfortunate consequences […]

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Spending on Full

Posted by Tom Duncan
May 7, 2010
in Blog

On Wednesday, I posted a link to a Freedom Daily article by Jim Powell. It was a very interesting article. I highly recommend it for those who are not aware of the history of Argentina and its fall from prosperity. I also highly recommend it to those who have still not yet grasped the truth […]

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Fieler and Bell on new chances to promote sound money (Gold)

Posted by Alex Chafuen
May 7, 2010
in Blog

“Legislation restoring dollar-gold convertibility should be accompanied by passage of a constitutional amendment guaranteeing the American people a right to conduct their economic affairs in gold, regardless of the future status of gold as the official money of the United States.” http://online.wsj.com/article_email/SB10001424052702303695604575181693906532202-lMyQjAxMTAwMDAwNzEwNDcyWj.html

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George Selgin – Central Banks as Sources of Financial Instability

May 6, 2010
in Blog

“The present financial crisis has set in bold relief the Jekyll and Hyde nature of contemporary central banks. It has made apparent both our utter dependence on such banks as instruments for assuring the continuous flow of credit in the aftermath of a financial bust and the same institutions’ capacity to fuel the financial booms […]

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“The euro: love it or leave it?”

Posted by Tom Duncan
May 6, 2010
in Blog

“The world economy is continually changing, but one constant is dissatisfaction with the euro. Toward the beginning of the decade, the main complaint was that the euro was too weak for booming economies like Ireland. Now the complaint is that it is too strong for growth-challenged countries like Italy. To be sure, the source of […]

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“The Austrian Theory of the Trade Cycle”

Posted by Tom Duncan
May 6, 2010
in Blog

“Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle. This description is extremely flattering for us Austrian economists, and we greatly appreciate the honor thereby given us. Like all other scientific contributions, however, the modern theory of economic crises is not the work of one nation. As with […]

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TFI Conference in Philadelphia

Posted by Tom Duncan
May 5, 2010
in Blog

On April 9, 2010, the Atlas Economic Research Foundation held a Teach Freedom Initiative conference at the Sheraton Society Hill Hotel in Philadelphia. The theme of the conference is “The Attack on Sound Money and Entrepreneurship: Threatening Liberty in America.” Audio files for the keynote talk and subsequent panels are provided below.   “The Attack […]

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“How a Rich and Proud Nation Went Broke”

Posted by Tom Duncan
May 5, 2010
in Blog

“On Loyalty Day, October 17, 1951, Evita declared, “I ask you today, comrades, only one thing — that we will all swear publicly to defend Perón and fight to the death.” She died in 1952 of cervical cancer, and to this day people leave flowers at her family vault in Buenos Aires. The personality cult, […]

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Let’s Talk Some Monetary Theory and the Trade Cycle

Posted by Tom Duncan
May 5, 2010
in Blog

“For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination. I have asked them to think about the relationship between Hayek’s 1928 paper on price equilibrium and movements in the value of money, his 1933 paper on price expectations, monetary disturbances and malinvestments, […]

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Real Banking Reform? End the Federal Reserve

Posted by Tom Duncan
May 5, 2010
in Blog

“The next major question that needs to be asked is: How do they know? These are the same politicians whose time horizon goes no further than the next election day, and who pander to the special interest groups that provide them with the campaign contributions and the votes that keep them in office. And these […]

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Market Interest Rates Need to Tell the Truth

Posted by Tom Duncan
May 4, 2010
in Blog

“In the free market, interest rates perform the same functions as all other prices: to provide information to market participants; to serve as an incentive mechanism for buyers and sellers; and to bring market supply and demand into balance. Market prices convey information about what goods consumers want and what it would cost for producers […]

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The Origins of the Federal Reserve

Posted by Tom Duncan
May 4, 2010
in Blog

“Where did this thing called the Fed come from? Murray Rothbard has the answer here — in phenomenal detail that will make your head spin. In one extended essay, one that reads like a detective story, he has put together the most comprehensive and fascinating account based on a century’s accumulation of scholarship. The conclusion […]

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“Gambling with Other People’s Money”

Posted by Tom Duncan
May 3, 2010
in Blog

“Beginning in the mid-1990s, home prices in many American cities began a decade-long climb that proved to be an irresistible opportunity for investors. Along the way, a lot of people made a great deal of money. But by the end of the first decade of the twenty-first century, too many of these investments turned out […]

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The Attack on Sound Money

Posted by Tom Duncan
May 3, 2010
in Blog

On April 9, 2010, the Atlas Economic Research Foundation held a Teach Freedom Initiative conference at the Sheraton Society Hill Hotel in Philadelphia. The theme of the conference is “The Attack on Sound Money and Entrepreneurship: Threatening Liberty in America.” Atlas’s Senior Fellow, Dr. Judy Shelton, presented the keynote address entitled “The Attack on Sound […]

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Lawrence H. White – What Type of Inflation Target?

May 2, 2010
in Blog

“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 basic money was constrained by the mints’ commitment to full-bodied gold and silver coinage (at least where the mint-owners lacked monopoly status or chose not […]

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Lawrence H. White – Sound Money and Free Banking

May 2, 2010
in Blog

On April 19, 2010, the Atlas Economic Research Foundation and the GMU Economics Society hosted a lecture by Lawrence H. White. Dr. White presented on the subject of sound money, it’s importance and historical origins, and how a free banking system produces a more reliable currency than that of the Federal Reserve. The video of […]

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Gene Smiley – Rethinking the Great Depression

May 2, 2010
in Blog

In this great little book, U.S. economic historian Gene Smiley presents the most recent economic historiography on the Great Depression. He concludes that the crisis was caused by the economic dislocations of World War I along with the attempts by the Bank of England, in conjunction with the monetary authorities of the U.S., to erect […]

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