Fiscal Theory

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Can the Fed Become Insolvent?

EducationThe FedFiscal TheoryInterventionism

11/29/2010Mises Daily Articles
Many academic economists are beginning to worry: Could the Federal Reserve itself become insolvent? In this article I'll explain these fears and I'll argue that the Fed, with its printing press, cannot really go bankrupt the way other corporations can...

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Quantitative Easing: It's Sinking the Fed's Status

The FedBusiness CyclesFiscal TheoryPolitical Theory

11/18/2010Mises Daily Articles
Uh oh, Mr. Bernanke, the natives are getting restless. Now it's not just Sarah Palin and Glenn Beck, or foreign central bankers, but more and more American economists who are starting to openly challenge the second round of "quantitative easing."...

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Currency Wars

Booms and BustsGlobal EconomyFiscal TheoryMonetary Theory

11/15/2010Mises Daily Articles
When governments try to confer an advantage to their exporters through currency depreciation, they risk a war of debasement. In such a race to the bottom, none of the participants can gain a lasting competitive edge.

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Should the Fed Be Concerned about Low Price Inflation?

The FedFiscal TheoryInterventionismMoney and Banking

10/26/2010Mises Daily Articles
A so-called lowering of "real" interest rates by means of money pumping is basically an act of a diversion of real wealth from wealth generators to various nonproductive activities. Hence, contrary to popular thinking, the Fed's attempt to lower the real interest rate in fact leads to...

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QE2 and the Alleged Deflation Threat

The FedFiscal TheoryInterventionismOther Schools of Thought

10/21/2010Mises Daily Articles
The justification given for "QE2," another round of quantitative easing, is of course the threat of deflation. But if we actually look for ourselves, we see that prices are not falling — not that it would be bad if they were...

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Currency and Banking Reform in 19th-Century Britain

The FedWorld HistoryFiscal TheoryMonetary Theory

09/08/2010Mises Daily Articles
"As a response to the actions of the Bank of England, the Currency School proposed a simple, yet powerful limitation on the bank: a 100-percent reserve requirement on the issue of new bank notes."...

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Affording the Unemployed

Booms and BustsU.S. EconomyFiscal TheoryInterventionism

08/18/2010Mises Daily Articles
Discarding the possibility of a change in public labor policy, the only means of restoring equilibrium in the labor market is through a sustainable increase in aggregate demand for labor — an increase in private investment...

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The Rothbardian Theory of Taxes

Taxes and SpendingAustrian Economics OverviewFiscal Theory

07/31/2010Audio/Video
In defense of tax loopholes and other things that horrify “mainstream” economists. Recorded at Mises University 2010...

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Welfare Economics

Big GovernmentMoney and BanksFiscal Theory

07/31/2010Audio/Video
Contrast Austrian Welfare Economics with alternative approaches including Pareto Optimality and Kaldor-Hicks. Recorded at Mises University 2010.

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Privatization of Roads

Big GovernmentFree MarketsTaxes and SpendingFiscal Theory

07/31/2010Audio/Video
Some 40,000 people perish each year on U.S. highways, and the National Traffic Safety Administration blames this on speeding, DUI, driver error, while the real problem is Sovietization of streets and roads. Recorded at Mises University 2010.

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