What Is the Role of Probability in Economics?
(Mises)—What is probability? The probability of an event is the proportion of times the event occurs out of a large...
Producers, Not Consumers, Are the Engine of Economic Growth
Keynesian economists believe that recessions occur because of a weakening in aggregate demand, so boosting demand will end the downturn....
Inflation IS Money Supply Growth, Not Prices Denominated in Money
In the recent Wall Street Journal article “Inflation Surge Earns Monetarism Another Look,” Greg Ip writes that a recent surge in inflation...
Krugman Is Wrong (Again): Artificially Low Interest Rates Created Bubbles
In his June 21 New York Times article “Is the Era of Cheap Money Over?,” Paul Krugman argues against the view that...