Saturday, 19 August 2017

Hayek

Knowledge Problem in Central Banking – Part I

August 2, 2017

In my previous posts, Andreas Hoffmann and I discussed the problem of unintended consequences in monetary policy, particularly as applied to the U.S. Federal Reserve and the European Central Bank in the context of the 2008 crisis. This post tackles a related issue: the so called “knowledge problem.” This term was coined after Hayek’s engagement […]

Read More

The Fed prints and prints, and no huge consumer price inflation?

Posted by Alex Chafuen
January 16, 2013

In this piece, Mark Thornton tries to solve the riddle:  “Where is the Inflation?” by Mark Thornton Critics of the Austrian School of economics have been throwing barbs at Austrians like Robert Murphy because there is very little inflation in the economy. Of course, these critics are speaking about the mainstream concept of the price […]

Read More

World Hyperinflations

Posted by Gonzalo Schwarz
August 22, 2012

World Hyperinflations by Steve H. Hanke and Nicholas Krus Steve H. Hanke is a Professor of Applied Economics and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore and a Senior Fellow at the Cato Institute. Nicholas Krus is a research associate at […]

Read More

The Euro’s Fetters?

Posted by Gonzalo Schwarz
July 9, 2012

Is the Euro harder to escape than the Gold Standard? by Gonzalo Schwarz Spanish economist Jesús Huerta de Soto just published a new article entitled “An Austrian Defense of the Euro.” In this paper Huerta de Soto develops an argument based on the lectures given by Nobel laureate Friedrich Hayek in the 1930’s at the […]

Read More

A Free-Market Monetary System

Posted by Gonzalo Schwarz
June 25, 2012

by Friedrich A. Hayek [A lecture delivered at the Gold and Monetary Conference, New Orleans, November 10, 1977. It made its first appearance in print in the Journal of Libertarian Studies, Volume 3, Number 1.] When a little over two years ago, at the second Lausanne Conference of this group, I threw out, almost as a sort […]

Read More

Central Versus Free Banking: the Essay Contest

Posted by Gonzalo Schwarz
May 9, 2012

The Mont Pelerin Society Friedrich A. Hayek Fellowships for the 2012 GENERAL MEETING OF THE MONT PELERIN SOCIETY (Prague, Czech Republic – September 2–7, 2012) “It is important here first to distinguish between the need for some ‘lender of last resort’ and the organization of banking on the ‘national reserve’ principle. … It is far […]

Read More