As most readers will know, a collection of damning quotes has surfaced recently, exposing Paul Krugman, the doyen of the economic left, as having been completely backward on the most material economic event in our generation: the housing bubble. My recent article on the subject, Krugman's Intellectual...
Below is my take on the Austrian Business Cycle Theory. Stages 1. Money Supply Increase causes a general 2. Credit Supply Increase , which causes a general 3. Interest Rate Decrease , which causes a general 4. Longer Term Investment Increase , which causes a general 5. (a) Demand for Labor Increase and...
Economics is seen by most as a something best left to the experts. But have so much trust when it becomes obvious that "the experts" are completely clueless? Almost every economist was completely by surprise by the development of the economic crisis. And the solutions they are offering don't...