The Visual Representation of Our Very Slow Recovery
Russ Roberts, who hosts the brilliant EconTalk, talks with John Taylor about the extremely slow recovery to our current recession and how that doesn’t match up with previous recessions. Previous recessions and recoveries have been either deep and brisk… Continue reading
Top Ten Economists
A top ten list of economists always depends on criteria. So here I use a combination of my beliefs, their credentials and the impact they had on economic thought:
The founder of anarcho-capitalism and inspiration to presidential candidate… Continue reading
Why the Division of Labor is Important
As Adam Smtih discussed with pins in The Wealth of Nations and Milton Friedman discussed with regards to a simple pencil, it’s amazing how the normal products we use are assembled using parts from and in a variety of… Continue reading
Austrians vs. Keynesians: A Case Study
The Keynesian model and the Austrian economic philosophy continue to lock horns. Similar ideas have gone toe to toe for three centuries now trying to explain the business cycle. Thomas Malthus and Jean-Baptiste Say made their case in the 19th century,… Continue reading
Who Is Your Least Favorite Economist?
At the behest of a reader I have formulated a new poll — a compliment to our last poll which tried to determine the favorite economist of Swift Economics followers (or should I refer to you as Clones like Jim… Continue reading
Who Is Your Favorite Economist?
Economists are famous for being wrong. As they say, economists have forecasted nine out of the last five recessions. Some, however, are more lucid than others. Many of us continue to seek out voices that illuminate rather then conceal the… Continue reading
Bitcoin: A Totally Decentralized P2P Digital Currency
I can’t think of anything that might get a government more riled up than a threat to their monopoly grasp on currency. It was the patriarch of the Rothschild international banking dynasty, Mayer Amschel Rothschild, that said, “Give me control… Continue reading
The Meaning of Inflation Changes
The word “inflation” is thrown around quite a bit, but it’s meaning has changed over time. It used to refer to an increase in money circulating in the economy. When this happens, more dollars begin chasing the same amount of… Continue reading
Cuba Cuts One Million Public Jobs… California State Pensions $500 Billion Underwater
Red Ink Rising
I’ve already discussed how the federal government’s budget is bleeding red ink. Well, the state’s aren’t much better. A recent Stanford University report concluded that California’s public employee’s pension fund was an astronomical $500 billion dollars… Continue reading
Milton Friedman on How the Government Creates Incentives for Immoral Behavior
It is a law of economics that people respond to incentives, that’s just how it is, no way around it. Unfortunately, politicians like to ignore this little fact. When our government creates a reason to do something that we would… Continue reading
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