Booms and Busts

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For Keynesians and Austrians, "Uncertainty" Means Two Different Things

Booms and BustsCapital and Interest Theory

After the 2008 crisis, many Keynesians found a new appreciation for uncertainty in economics. Unfortunately, they misunderstand how uncertainty works.

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Why Understanding "Roundaboutness" Is so Important

Booms and BustsBusiness Cycles

Blog03/09/2017
Making production processes more roundabout results in greater production in terms of the quantity produced and a lower cost on a per-unit basis.

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The Great Gatsby and the Fed

Booms and BustsMedia and CultureBusiness CyclesPolitical Theory

Blog02/17/2017
The “constant flicker” of American life described by Fitzgerald in his novel is no less than the artificial boom driven by the Fed during the 1920s.

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Updating Robert Higgs's "Gross Domestic Private Product"

Booms and BustsTaxes and SpendingBusiness Cycles

Blog02/17/2017
Although once controversial, government purchases are now included in GDP measurements. But, it may be still useful to remove these purchases from GDP.

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Can Technology Prevent a Recession?

Booms and BustsMoney and BanksBusiness CyclesMoney and Banking

Blog01/23/2017
Technology doesn't tell us much about whether we're prone to a recession. The much larger issue is inflation-induced misallocation of resources.

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Why Government Solutions Usually End in Inflation

Big GovernmentBooms and BustsMonetary Theory

Blog01/03/2017

All governments are firmly committed to the policy of low interest rates, credit expansion, and inflation.

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End Game for the Global Economy

Booms and BustsMoney and BanksBusiness CyclesMoney and Banking

Blog12/07/2016

Central banks never recovered and "normalized" their balance sheets after the 2008 crisis. That means the current system is very fragile.

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Will Trumponomics Save Us From A Bust?

Booms and BustsMoney and BanksMoney and Banking

Blog11/22/2016

The markets are betting on a new Trump-driven economic miracle to soften the blow of the next recession. It may be a vain hope.

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Keynes Would Have Loved Trump's Economic Plan

Booms and BustsTaxes and SpendingMoney and BankingPolitical Theory

Blog11/21/2016

Donald Trump's spending plans will not invigorate the economy. However, There are some things Trump could do to truly encourage wealth creation.

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There Are Two Types of Credit — One of Them Leads to Booms and Busts

Booms and BustsBusiness Cycles

Blog11/14/2016

Mises made a distinction between credit that is backed by savings, and credit that is not. The second type plays a key role in the boom-bust cycle.

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