Saturday, 18 November 2017

Ludwig von Mises

The Regression Theorem: In Light of Bitcoin

Posted by William Luther
July 18, 2017
in Blog

In three previous posts, I have described the regression theorem, discussed its practical applications, and considered some misconceptions. In this post, I will consider the regression theorem in light of bitcoin. The discussion around bitcoin and the regression theorem usually focuses on whether bitcoin has some intrinsic worth (read: non-monetary use). If bitcoin is intrinsically […]

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The Regression Theorem: Misconceptions

Posted by William Luther
July 13, 2017
in Blog

In two previous posts, I described the regression theorem and discussed its practical applications. In this post, I will discuss some misconceptions. Misconception 1. The regression theorem only applies to a barter economy. In a recent article, Laura Davidson and Walter Block argue that the regression theorem is only applicable in a barter economy. It […]

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The Greatest Thinker You’ve Never Read: Ludwig von Mises

Posted by Gonzalo Schwarz
September 29, 2012
in Blog

by Art Carden Had he not passed away at the tender age of 92 in 1973, Ludwig von Mises would have turned 131 years old today. In my humble opinion, he was the greatest social thinker of the twentieth century. In a series of breakthrough contributions like The Theory of Money and Credit, Socialism: An Economic And […]

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Trivial Objections to Fractional Reserve Banking

Posted by Gonzalo Schwarz
June 19, 2012
in Blog

The Murray N. Rothbard Memorial Lecture. Recorded 9 March 2012 at the Ludwig von Mises Institute in Auburn, Alabama. Includes an introduction by Joseph T. Salerno.   Learn more at mises.org… image: flickr.com/naturewise

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Robert Wenzel’s ‘David’ Speech Crushes Federal Reserve’s ‘Goliath’ Dream

Posted by Gonzalo Schwarz
April 27, 2012
in Blog

Submitted by Tyler Durden In perhaps the most courageous (and likely must-read for future economists) speech ever given inside the New York Fed’s shallowed hallowed walls, Economic Policy Journal’s Robert Wenzeldelivered the truth, the whole truth, and nothing but the truth to the monetary priesthood. Gracious from the start, Wenzel takes the Keynesian clap-trappers to task on almost every […]

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Would the Real Gold Standard Please Stand Up?

March 5, 2012
in Blog

“Bears are animals. Animals have four legs. Chairs have four legs. Therefore, chairs love honey.” What’s wrong with this logic? Don’t ask opponents of the Classical Gold Standard… The gold standard debate has seen a spike recently in different blogs (Bruce Bartlett, David Beckworth, David Glasner, Blake Johnson, Kurt Schuller, Scott Sumner, David Glasner, George […]

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Free Banking versus Large-scale Credit Expansion

Posted by Gonzalo Schwarz
December 28, 2011
in Blog

Observations on the Discussions Concerning Free Banking The Banking School taught that an overissuance of banknotes is impossible if the bank limits its business to the granting of short-term loans. When the loan is paid back at maturity, the banknotes return to the bank and thus disappear from the market. However, this happens only if […]

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The other Mises and his Monetary Plan for Reconstruction

Posted by Alex Chafuen
December 9, 2011
in Blog

Unlike some of his followers, Ludwig von Mises invested considerable part of his life studying policy issues with a thorough knowledge of the economic conditions and statistics of his native Austria (he even had an estimate of the number of leading entrepreneurs in the country).  A good example would be part II, D) of his […]

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Two Masterpieces by Mises

Posted by Gonzalo Schwarz
October 30, 2011
in Blog

In symposiums written “in honor of” some distinguished writer, the individual contributors too often go off on tangents of their own, and develop points of view that may be irrelevant or even alien to the writer they are supposed to honor. In order to pay homage to the great contribution of Ludwig von Mises in […]

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“Inflation and You” – Ludwig von Mises

Posted by Tom Duncan
March 11, 2011
in Blog

“The first fact that needs to be noted in answering such questions is that inflation is detrimental to all creditors. The higher prices rise, the lower will fall the purchasing power of the principal and interest payments due. The dollar which was loaned out had a higher purchasing ability, could provide more goods, than the […]

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Stylized Facts, Public Policy and the “Crack Up Boom” – Peter Boettke

Posted by Tom Duncan
December 16, 2010
in Blog

“In reading Mises I am always struck by how fresh he still reads, and how relevant his analysis of contemporary policy in the first half of the 20th century still is relevant for us at the beginning of the 21st century. Of course, there is the enduring insights that transcend time and place — Mises […]

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“It’s Time for a 21st Century Gold Standard”

Posted by Tom Duncan
October 11, 2010
in Blog

“No monetary system, including gold, is perfect. But the evidence is that the gold standard is a recipe for lower-than-predicted federal interest rates (quelling the coming fiscal crisis); lower corporate bond rates (jobs); and lower mortgage rates (relief to millions of upside down homeowners). The gold standard sounds picturesque. In reality it is a technical, […]

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Inflation Destroys Savings

Posted by Tom Duncan
May 19, 2010
in Blog

“Everything that is done by a government against the purchasing power of the monetary unit is, under present conditions, done against the middle classes and the working classes of the population. Only these people don’t know it. And this is the tragedy. The tragedy is that the unions and all these people are supporting a […]

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What Austrian Economics Can Tell Us about the Crisis

April 28, 2010
in Blog

The recent financial crisis has called into question several basic tenets of mainstream macroeconomics. In the words of William White, former chief economist of the Bank for International Settlements (BIS), “the prevailing paradigm of macroeconomics allows no room for crises of the sort we are experiencing.” White and his BIS colleagues were among the few […]

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