Tag Archives: John Maynard Keynes

What is it about money?

I was going to hold off blogging until the New Year, but irritation drove me to posting … In a recent article, Alan Kohler had this to say: The real war is between monetary policy and the Digital Revolution – between the world of finance trying to reduce the value of money and therefore debt, […]

Ronald Coase (1910-2013)

I was intending to make this my Wednesday post for last week, but my iPad ate my draft in Pages (it will not open or email the document: any suggestions for getting to the document would be welcome). But delaying for a week allowed me to provide a more complete post.   Ronald Coase, the […]

The misbegotten birth of macro

As folks may have noted, I like graphs; they can be very useful illustrations, particularly of historical trends.  Consider this graph, taken from the 2012 US Federal Budget (via). What is striking is the long-run stability of economic growth in the US, apart from one episode which stands out fairly dramatically. Very dramatically (pdf) given that: […]

The insidious reach of error

I have become deeply interested in the origins of money, which means reading the work of various historical anthropologists. As is often the case when reading other social scientists on matters of economic significance, one comes across a fair bit of economist envy. Compared to other social science academics (and, for that matter, humanities academics), […]

Friedman centenary

Today (Tuesday 31st) is Milton Friedman’s centenary.  It seems appropriate to link to some Milton Friedman quotes here and here.  Various bloggers have offered their comments, including Bryan Caplan’s ode, Tyler Cowen notes how much he is still needed, Lars Christensen writes him a letter, and David Glasner continues his campaign against the Wall St […]

Response to Dr Horwitz’s thoughts

Dr Horwitz’s thoughtful and generous response to my original post is useful in clarifying what a serious Austrian school economist thinks and correcting some of my misapprehensions. It seems to have been a useful exercise, to provide reactions to Austrian commentary from someone much more familiar with mainstream economics. Even better, I now have something I […]

Some Thoughts on Lorenzo on Austrian Economics (guest post by Steven Horwitz)

This is a guest post by Steven Horwitz which was originally posted at Critical Thinking Applied but which Dr Horwitz has kindly agreed to be also posted here. Dr. Horwitz is the Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary […]

About Austrian economics

I find Steve Horwitz, along with George Selgin (prominent advocate of free banking and supporter of a productivity norm [pdf] for monetary policy), the most accessible of contemporary Austrian school economists as they are both clear writers who seek to engage with those who are not of their school and are refreshingly free of the nastiness […]