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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...

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Debt and boom

The slogan for this post is: don’t think debt, think safe assets. (This post is partly provoked by this post by Paul Krugman responded to by Scott Sumner and by Marcus Nunes.) In my Debt, Doom and...

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Networked zealotry

A feature of the internet has been the growth of networked zealotry; where intensely held attitudes are expressed in overheated rhetoric and ad hominem abuse, not as solitary aberrations (though that...

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They did it again

One of my basic analytical principles is that things reveal their nature in history (including the history that has not happened yet — that is, what has happened is not the sum of possibilities). If...

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Bilbo baggage

The further back you can look, the further forward you are likely to see. Winston Churchill. With the release of the first film of The Hobbit trilogy, An Unexpected Journey, the blogosphere is rife...

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Check your expectations (3) Milton Friedman not going far enough

Milton Friedman’s 1967 Presidential Address (pdf) is something monetary economists regularly say anyone interested in monetary economics should read. Having recently read it, I have come to the...

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Bubble trouble: about asset booms and busts

Assets are items that produce income or retain value across time periods. Gold is a pure store-of-value asset, as it produces no income. Bonds are pure income assets, as they have no value apart from...

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Putdowns with style — economists’ version

I was very chuffed when my favourite econblogger made one of my comments the centrepiece of a post. That is a prominent economist being nice. Then there are economists engaged in public putdowns. In...

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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)....

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