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Chinese Ghost Town

It is indeed a sad thing to see when thriving areas are deserted, leaving a few forlorn families and struggling businesses. Some causes of ghost towns are the decline of a once-booming industry, wars, famine, and the loss of economic competitiveness. ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  22 Nov 2009

Why Health Insurance?

On both (or every) side of the current health care debate the discussion centers on how people will obtain insurance, not how people will obtain health care. Why is it assumed by everyone that a third-party payer should be the primary way that people ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  21 Oct 2009

Related Topics: Robert Murphy

Bail, or Fail?

My friend Brent Mattis (Finance Professional and student of Austrian Economics) wrote: From where I am standing, it seems like leading up to and during financial crises, some Austrians seemed to be making contradictory statements. On one hand, several ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  7 Oct 2009

What Keynes Said, and Meant

"Lewis's book is accessible to anyone who has had a macroeconomics course, and to the general reader of the business media." This important book fills a gap in the literature. It is an Austrian critique of Keynes that is concise and accessible to the ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  29 Sep 2009

Related Topics: Alan Greenspan,  Federal Reserve

Does Mining Matter? LBMA and the Gold Float

When I wrote my article Does Mining Matter?, I would have liked to include some statistics on the total volume of gold trade but I did not know whether they existed or where to find them. According to Paul van Eeden, who has looked at the LBMA ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  21 Sep 2009

UN: Global Currency Should Replace Dollar

... a new Bretton Woods-style system of managed international exchange rates, meaning central banks would be forced to intervene and either support or push down their currencies depending on how the rest of the world economy is behaving. The proposals ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  19 Sep 2009

Related Topics: James Benton Grant

Mini-Review: Where Keynes Went Wrong

The biggest surprise of the book is that it is thoroughly Austrian. The author draws upon Mises, Hayek, Rothbard, Resiman, Hutt, Rueff, and other thinkers in this tradition who have been most critical of Keynes. Lewis says that he set out to write the ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  12 Sep 2009

Related Topics: David Riesman

Fed Gov: We Are Awesome

I will be the first to say that it is always difficult to get monetary policy just right. But the Fed's analytical prowess is top-notch and our forecasting record is second to none. The FOMC is committed to price stability and has a solid track record ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  2 Sep 2009

Does Gold Mining Matter?

The outlooks of gold analysts are diverse. After reading the latest WGC report, Mineweb is bullish: "Gold demand tops US$100 billion and mine supply remains under threat." John Nadler, however, is bearish, citing the expected "additional 400–500 tonnes ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  14 Aug 2009

Software Models and Austrian Economics

Economic resources are things that are scarce, and have utility for economic agents, and users of business applications want to plan, monitor, and control Compare this to Menger, The General Theory of the Good: If a thing is to become a good, or in ...

From ROBERT BLUMEN, Ludwig von Mises Institute,  8 Aug 2009

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