A Rejoinder to Brad DeLong

May 19, 2009 8:16 AM by Roger Garrison

In his dismissive response to me, Brad DeLong provides some arithmetic that supposedly weighs against the Austrian theory of the business cycle as a plausible basis for understanding the current recession.The differences between DeLong and the Austrians are not to be resolved by doing the math but by understanding the theory. Tellingly, DeLong has overestimated and, at the same time, underestimated the significance of the housing bubble in the Austrians' view of the current recession. FULL ARTICLE

That waterfall

March 18, 2009 9:03 AM by Roger Garrison

Michael Pollaro says: "A $2.5 trillion deficit will create quite a waterfall on this graph, don't you think?"

Here is the waterfall-deficit graph (with an attitude). I created it when the projected red ink was "only" $1.6 trillion, after which Obama was to cut it in half by the end of his first term.

Norman Barry RIP

October 27, 2008 8:38 AM by Roger Garrison

Norman Barry, adjunct scholar of the Mises Institute, has died.

Professor Norman Barry It is with great sadness that the University has learned of the death this morning of Professor Norman Barry. As one of the foremost exponents of classical liberal theory in the United Kingdom, Norman established the foundation around which the study of politics developed at the University. His work as a scholar of Friedrich von Hayek, as a social and political theorist and as a writer in business ethics contributed greatly to the academic reputation of the University after his arrival in 1982. He received the 'Liberty in Theory' Lifetime Award from the Libertarian Alliance (LA) in 2005. Our condolences go to his colleagues, friends and family.

A graduate of the University of Exeter, Professor Barry lectured in Politics at Queen's University of Belfast and at Birmingham Polytechnic (now the University of Central England) before being appointed as a Reader in Politics at the University of Buckingham in 1982. His books include Hayek's Social and Economic Philosophy (1979), An Introduction to Modern Political Theory (1981), The Morality of Business Enterprise (1991), Classical Liberalism in an Age of Post-Communism (1996) and Business Ethics (1998). He was awarded a Chair in Social and Political Theory at Buckingham in 1984. He was also a visiting scholar at the Centre for Social Philosophy and Policy, Bowling Green State University, Ohio, and at the Liberty Fund, Indianapolis. He was a member of the Advisory Council of the Institute of Economic Affairs, London; the Institute for the Study of Civil Society, London; and the David Hume Institute, Edinburgh.