austrian economics and public policy restoring freedom and prosperity

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Political Economy Public Policy And Monetary Economics

Author : Richard M Ebeling
ISBN : 9781135172213
Genre : Business & Economics
File Size : 55. 38 MB
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Austrian economist, Ludwig von Mises, was one of the most original and controversial economists of the 20th century, both as a defender of free-market liberalism and a leading opponent of socialism and the interventionist-welfare state. He was both the grant designer of a political economy of freedom and a trenchant, detailed critic of government regulatory and monetary policies in the first half of the 20th century. This fascinating book explores the cultural currents of anti-Semitism in Austria before and after the First World War that Mises confronted as an Austrian Jew; his analysis of Austria-Hungary’s establishment of a gold standard; Mises’ multi-sided activities in the years after the World War I in stemming a hyperinflation, opposing government fiscal mismanagement, and resisting misguided policies during the Great Depression; and his analysis of how Europe plunged into World War II and the policies to restore freedom and prosperity in the post-war period. It also discusses the confrontation between the Austrian Economists and the Keynesians over the causes and cures for the Great Depression, as well as how Mises’ "Austrian" approach to money and the business cycle contrasted with both the ideas of Joseph A. Schumpeter and the Swedish Economists of the interwar period. This volume breaks new ground in placing Ludwig von Mises’ many original views on political economy, public policy and monetary economics in the historical context of his time, especially during the interwar period when he was a senior economic analyst for the Vienna Chamber of Commerce and after his arrival in America during World War II. The book will therefore be of interest to students and researchers in monetary economics, political economy, expectations theory and the market process, and the history of economic thought.

Jfk And The Reagan Revolution

Author : Lawrence Kudlow
ISBN : 9780698162839
Genre : Business & Economics
File Size : 90. 50 MB
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The fascinating, suppressed history of how JFK pioneered supply-side economics. John F. Kennedy was the first president since the 1920s to slash tax rates across-the-board, becoming one of the earliest supply-siders. Sadly, today’s Democrats have ignored JFK’s tax-cut legacy and have opted instead for an anti-growth, tax-hiking redistribution program, undermining America’s economy. One person who followed JFK’s tax-cut growth model was Ronald Reagan. This is the never-before-told story of the link between JFK and Ronald Reagan. This is the secret history of American prosperity. JFK realized that high taxes that punished success and fanned class warfare harmed the economy. In the 1950s, when high tax rates prevailed, America endured recessions every two or three years and the ranks of the unemployed swelled. Only in the 1960s did an uninterrupted boom at a high rate of growth (averaging 5 percent per year) drive a tremendous increase in jobs for the long term. The difference was Kennedy’s economic policy, particularly his push for sweeping tax-rate cuts. Kennedy was so successful in the ’60s that he directly inspired Ronald Reagan’s tax cut revolution in the 1980s, which rejuvenated the economy and gave us another boom that lasted for two decades. Lawrence Kudlow and Brian Domitrovic reveal the secret history of American prosperity by exploring the little-known battles within the Kennedy administration. They show why JFK rejected the advice of his Keynesian advisors, turning instead to the ideas proposed by the non-Keynesians on his team of rivals. We meet a fascinating cast of characters, especially Treasury Secretary Douglas Dillon, a Republican. Dillon’s opponents, such as liberal economists Paul Samuelson, James Tobin, and Walter Heller, fought to maintain the high tax rates—including an astonishing 91% top rate—that were smothering the economy. In a wrenching struggle for the mind of the president, Dillon convinced JFK of the long-term dangers of nosebleed income-tax rates, big spending, and loose money. Ultimately, JFK chose Dillon’s tax cuts and sound-dollar policies and rejected Samuelson and Heller. In response to Kennedy’s revolutionary tax cut, the economy soared. But as the 1960s wore on, the departed president’s priorities were undone by the government-expanding and tax-hiking mistakes of Presidents Johnson, Nixon, Ford, and Carter. The resulting recessions and the “stagflation” of the 1970s took the nation off its natural course of growth and prosperity-- until JFK’s true heirs returned to the White House in the Reagan era. Kudlow and Domitrovic make a convincing case that the solutions needed to solve the long economic stagnation of the early twenty-first century are once again the free-market principles of limited government, low tax rates, and a strong dollar. We simply need to embrace the bipartisan wisdom of two great presidents, unleash prosperity, and recover the greatness of America. From the Hardcover edition.

Unintended Consequences

Author : Edward Conard
ISBN : 9781101602584
Genre : Political Science
File Size : 34. 16 MB
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In the aftermath of the Financial Crisis, many com­monly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down pay­ments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn't afford. It blames average Americans for borrowing recklessly and spend­ing too much. And it blames the tax policies and deregulatory environment of the Reagan and Bush administrations for encouraging reckless risk taking by wealthy individuals and financial institutions. But according to Unintended Consequences, the conventional wisdom masks the real causes of our economic disruption and puts us at risk of facing a slew of unintended-and potentially dangerous-consequences.

Neoliberale Staatsverst Ndnisse Im Vergleich

Author : Stefan Kolev
ISBN : 9783110489910
Genre : Business & Economics
File Size : 54. 71 MB
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Der Neoliberalismus ist in aller Munde. Gerne wird ihm alles Krisenhafte in der globalen Okonomie angelastet, jungst auch die neue Instabilitat der westlichen Demokratien. Zu Recht? Im Mittelpunkt der Studie stehen vier neoliberale Okonomen der ersten Stunde: Walter Eucken, Friedrich August von Hayek, Ludwig von Mises und Wilhelm Ropke. Ihre Ordnungsentwurfe von Wirtschaft und Gesellschaft enthalten unterschiedliche Rollen fur den Staat. Diese Staatsverstandnisse werden in drei Vergleichen zueinander in Beziehung gesetzt und um ihr jeweiliges Gravitationszentrum strukturiert. Jeder Vergleich besteht aus zwei Ebenen: Zunachst werden abstrakte Leitbilder fur die Rolle des Staates herausgearbeitet, anschlieend werden diese mit vier Feldern der konkreten Wirtschaftspolitik verknupft. Dieser Zugang soll die vier Neoliberalen entmystifizieren und es den gegenwartigen Krisendiskursen ermoglichen, von ihren Ideen zu profitieren. Das Buch richtet sich an Dozenten und Studierende der Volkswirtschaftslehre, der Politikwissenschaft, der politischen Philosophie und der Wirtschaftssoziologie sowie an jeden Burger, der inmitten der neuen Fragilitat des Westens nach polit-okonomischen Denkimpulsen sucht.

The Upside Of Inequality

Author : Edward Conard
ISBN : 9780698409910
Genre : Business & Economics
File Size : 71. 57 MB
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The scourge of America’s economy isn't the success of the 1 percent—quite the opposite. The real problem is the government’s well-meaning but misguided attempt to reduce the payoffs for success. Four years ago, Edward Conard wrote a controversial bestseller, Unintended Consequences, which set the record straight on the financial crisis of 2008 and explained why U.S. growth was accelerating relative to other high-wage economies. He warned that loose monetary policy would produce neither growth nor inflation, that expansionary fiscal policy would have no lasting benefit on growth in the aftermath of the crisis, and that ill-advised attempts to rein in banking based on misplaced blame would slow an already weak recovery. Unfortunately, he was right. Now he’s back with another provocative argument: that our current obsession with income inequality is misguided and will only slow growth further. Using fact-based logic, Conard tracks the implications of an economy now constrained by both its capacity for risk-taking and by a shortage of properly trained talent—rather than by labor or capital, as was the case historically. He uses this fresh perspective to challenge the conclusions of liberal economists like Larry Summers and Joseph Stiglitz and the myths of “crony capitalism” more broadly. Instead, he argues that the growing wealth of most successful Americans is not to blame for the stagnating incomes of the middle and working classes. If anything, the success of the 1 percent has put upward pressure on employment and wages. Conard argues that high payoffs for success motivate talent to get the training and take the risks that gradually loosen the constraints to growth. Well-meaning attempts to decrease inequality through redistribution dull these incentives, gradually hurting not just the 1 percent but everyone else as well. Conard outlines a plan for growing middle- and working-class wages in an economy with a near infinite supply of labor that is shifting from capital-intensive manufacturing to knowledge-intensive, innovation-driven fields. He urges us to stop blaming the success of the 1 percent for slow wage growth and embrace the upside of inequality: faster growth and greater prosperity for everyone. From the Hardcover edition.

Economics In One Lesson

Author : Henry Hazlitt
ISBN : 9780307760623
Genre : Business & Economics
File Size : 45. 97 MB
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A million copy seller, Henry Hazlitt’s classic primer is an essential guide to the basics of economic theory. A fundamental influence on modern libertarianism, Hazlitt defends capitalism and the free market from economic myths that persist to this day. Considered among the leading economic thinkers of the “Austrian School,” which includes Carl Menger, Ludwig von Mises, Friedrich (F.A.) Hayek, and others, Henry Hazlitt (1894-1993), was a libertarian philosopher, an economist, and a journalist. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman magazine, an influential libertarian publication. Hazlitt wrote Economics in One Lesson, his seminal work, in 1946. Concise and instructive, it is also deceptively prescient and far-reaching in its efforts to dissemble economic fallacies that are so prevalent they have almost become a new orthodoxy. Many current economic commentators across the political spectrum have credited Hazlitt with foreseeing the collapse of the global economy which occurred more than 50 years after the initial publication of Economics in One Lesson. Hazlitt’s focus on non-governmental solutions, strong — and strongly reasoned — anti-deficit position, and general emphasis on free markets, economic liberty of individuals, and the dangers of government intervention make Economics in One Lesson, every bit as relevant and valuable today as it has been since publication.

Socialism Economic Calculation And Entrepreneurship

Author : Jes£s Huerta de Soto
ISBN : 9781849805001
Genre : Business & Economics
File Size : 50. 60 MB
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This highly topical book presents a new theory on the characteristics of entrepreneurial knowledge. It explores the recent shift among professional economists and scholars in their evaluation of the debate of socialism. Socialism, Economic Calculation and Entrepreneurship presents an application of Israel M. Kirzner's theory of entrepreneurship to the theory of the impossibility of socialism. It discusses the influence of the fall of socialism, with particular reference to the evolution of economic thought.

Debunking Utopia

Author : Nima Sanandaji
ISBN : 1944229396
Genre : Philosophy
File Size : 39. 10 MB
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At first glance, Nordic countries seem to have everything liberals want to see in America: equal income distribution, good health, low levels of poverty, and thriving economies, all co-existing with big welfare states. By copying Nordic policies, many in the American left hope to transform America to a similar socialist "utopia." In"Debunking Utopia"," "Swedish author Nima Sanandaji explains why this is all wishful thinking. He systematically proves that the high levels of income equality, high lifespans and other signs of social success in the Nordics all predate the expansion of the welfare state. If anything, the Nordic countries reached their peak during the mid-twentieth century, when they had low taxes and small welfare states. Perhaps most astonishing are his findings that Nordic-Americans consistently outperform their cousins who live across the ocean. People of Nordic descent who live under the American capitalist system not only enjoy higher levels of income, but also a lower level of poverty than the citizens of the Nordic countries themselves."

Lukewarming

Author : Patrick J. Michaels
ISBN : 1944424032
Genre : Political Science
File Size : 31. 77 MB
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In Lukewarming: The New Climate Science that Changes Everything, Michaels and Knappenberger, two scientists with more than half a century experience between them, explore the realities and myths of global warming--which is more likely to be lukewarm rather than hot.

A Critique Of Keynesian Economics

Author : Walter Allan
ISBN : 9781349224814
Genre : Business & Economics
File Size : 47. 56 MB
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'All of us need help in understanding Keynes's brilliant, but often opaque, contributions to theory and policy. These essays provide a scholarly, balanced yet provocative assessment and critique.' Sir Alan Walters This book represents, for the first time a collection of classic appraisals of Keynesian economics' impact on economic theory and policy that will be of use to all students of macroeconomics and the history of economic thought. Don Patinkin's assesses Keynes early life and focuses attention on Keynes's contribution to monetary economics. Axel Leijonhufvud takes the view that the Keynesian revolution began and stayed on the wrong track. Leland Yeager refutes the idea that Keynesian economics was responsible for the general prosperity in the industrialised world immediately after the Second World War. Karl Brunner is critical of Keynes's reliance on fiscal rather than monetary policy. Terence Hutchison defends Keynes, both against his critics and against Keynesians! Patrick Minford traces the roots of neoclassical economics, back to The General Theory. Stephen Littlechild offers an alternative to Keynesian economics by focusing attention on the Austrian school.

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