Thomas E. Woods Archive
October 19, 2009 10:22 PM
by
Thomas E. Woods
Tomorrow (Tuesday, October 20) at an event in Hartford sponsored by the University of Connecticut School of Business I'll be speaking alongside, if not quite debating, an executive from a major insurance company on the subject of "too big to fail," and secondarily on the government's response to (and responsibility for) the financial crisis in general. It's not a debate, but each of us will speak for about 40 minutes, followed by audience questions. Details here.
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October 10, 2009 9:37 AM
by
Thomas E. Woods
Here's my most in-depth discussion of the Depression of 1920, which reversed itself in the face of dramatic government budget cuts and a Federal Reserve that did not use its money creation powers. The article is a more formal version of my presentation at the Mises Circle in Colorado Springs back in April:
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September 30, 2009 10:57 AM
by
Thomas E. Woods
Harold Meyerson writes in the Washington Post (free registration required) that "the problem with contemporary economics, at least with the purer strain of free-market economics associated with the University of Chicago, is not simply that it failed to predict the near-collapse of the world financial system last year. The problem is that it believed such a collapse could not happen, that all risk could be quantified by mathematical models and that these quantifications could help us correctly price just about everything." Harold, I think I know an even purer strain, and one that did predict these problems, but I'll leave you to your Orwellian exercise.
Then this: "...there really was no need to study such things as bubbles, which only a handful of skeptics and hopelessly retro Keynesians even considered possible. Under mainstream economic theory, which held that everything was correctly priced, bubbles simply couldn't exist." Which "handful of skeptics" would that be, Harry?
"The one economist who has emerged from the current troubles with his reputation not only intact but enhanced is, of course, Keynes." Well, "of course"!
(Thanks to Timothy Geraghty.)
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