Paul Krugman Attacks Ludwig von Mises: Another Win for Austrian Economics!

February 9th, 2014
in Op Ed, syndication

by Joseph Salerno, Ludwig von Mises Institute

First they ignore you, then they laugh at you, then they fight you, then you win. (Mahatma Gandhi)

Final victory draws ever nearer for Austrian economics. Over the weekend, the New York Times – with its intellectual cachet rapidly waning and its finances in parlous straits – ran a tedious and rambling hit piece on Rand Paul.  The article  went out of its way to target the Mises Institute – the long-time home of mainline Austrian economics.  Lew Rockwell wrote a response graciously accepting the honor associated with being recognized as a leading intellectual threat to establishment economics and the American Welfare - Warfare State by the leading media mouthpiece for the regime. Hard on the heels of this article comes another attack on Austrian economics in the Times.  This one appears in an op ed by house Keynesian Paul Krugman whose one-note diatribes have long ceased  to outrage or amuse. Even Krugman’s title, “Soup Kitchens Caused the Great Depression,” has been recycled. And it is not rendered any less tired by the addition of “the AFF Edition,” an idiosyncratic acronym which, as Krugman is forced to explain in the first sentence of the text, means “Austrian Founding Fathers.”

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The Sources of Inflation

February 9th, 2014
in Op Ed

The Economics of Chaos. What We Know for Sure

by Rodger Malcolm Mitchell, www.nofica.com

Because a large economy, by definition, contains more money than does a smaller economy, an economy growing from smaller to larger requires an increase in the money supply.

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Fed’s Reverse Repos Give Guaranteed Deposits to Institutions, Ripping Off Taxpayers

February 8th, 2014
in Op Ed

by Lee Adler, Wall Street Examiner

The system remains awash in liquidity, but rather than committing it to stocks, those with the cash have continued to either buy Treasuries or park the funds in the Fed's tri party overnight reverse repo Temporary Open Market Operations. That program is open not just to Primary Dealers, but also to selected banks and money market funds.

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Designing the Monetary Policy Committee

February 7th, 2014
in Op Ed

by Ajay Shah, ajayshahblog

The establishment of a proper Monetary Policy Committee is central to a well functioning monetary policy process. There is a lot of interest in alternative designs of the Monetary Policy Committee. In this post I analyse a few designs. Before we get to that, let's think of the foundations.

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The Economics of Basic Social Operations ... Are Deeply Broken

February 7th, 2014
in Op Ed

by Roger Erickson, Open Operations Forum

Have you watched the videotaped interview of Edward Snowden in Moscow? The interview drives home the reality of a very simple fact.

The entire current state of computing is an abuse waiting to happen.

Every aspect of social information assurance has to be rethought, from the IP packet on up.

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