What should be the criteria for model selection?
byIn order to make the data “talk,” economists utilize a range of statistical methods that vary from highly complex models to a simple display…
Austrian School
Fed confused about what drives inflation
byOn October 4 2017, the former governor of the Federal Reserve Daniel Tarullo in a speech at the Brookings think-tank in Washington said Fed…
The worst of government poor planning: An economic argument against rent controls
by“In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.”[1] Jeremy Corbyn’s announcement…
MARK SKOUSEN’S CONTRIBUTIONS TO ECONOMICS By Ken Schoolland, Hawaii Pacific University
by“If I have been able to see farther than others, it was because I stood on the shoulders of giants.” — Sir Isaac Newton…
Lowering of tax rates without lowering government outlays cannot grow the US economy
byThe US President, Donald Trump, proposed on Wednesday October 27 2017 a tax plan that would lower the top individual tax rate to 35%…
Why US price inflation remains relatively subdued?
byThe yearly growth rate of the US consumer price index stood at 1.9% in August against 1.7% in July, while the growth rate of…
Ludwig von Mises on Collectivist Fallacies and Interventionist Follies
byFor more than a century the world has been caught in the grip of social engineers and political paternalists determined to either radically remake…
Does the central bank determine interest rates?
byAccording to mainstream thinking, the central bank is the key factor in determining interest rates. By setting short-term interest rates, the central bank, it…
Ludwig von Mises and the Real Meaning of Liberalism
byLiberalism has become one of the most widely misused and abused words in the American political lexicon. It represents, some say, politically “progressive thought,”…