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Olduvai III: Catacylsm
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The Great Economic Destruction & COMPLEXITY

The Great Economic Destruction & COMPLEXITY COMMENT #1: OK Marty, it is now becoming obvious that not only Trump reads your stuff but so does Obama. Trump bought a $19 million remote island and Obama bought one for $15 million. This is not a coincidence. Your war cycle goes nuts next year and we have […]

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There’s a Crisis in US Capitalism

There’s a Crisis in US Capitalism Capitalism has always had business cycles. The capitalist enterprises that produce goods and services are distinctively organized around the conflicted relationship of employer and employees and the competitive relationship of markets. These central relationships of capitalism together generate cyclical instability. Wherever capitalism became a society’s economic system over the […]

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Business Cycles and Inflation, Part II

Business Cycles and Inflation, Part II Early Warning Signals in a Fragile System [ed note: here is Part 1; if you have missed it, best go there and start reading from the beginning] We recently received the following charts via email with a query whether they should worry stock market investors. They show two short […]

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5 Reasons Why Austrian Economics Is Better than the Mainstream

5 Reasons Why Austrian Economics Is Better than the Mainstream Noah Smith has acknowledged the failings of mainstream macroeconomics, but he says that none of the “outside ideas” offer a better replacement. He failed to mention the Austrian school, but we can still show how the Austrian tradition parries his criticisms with ease. 1. Quantitative […]

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Expectations and Business Cycles

Expectations and Business Cycles According to the Austrian Business Cycle Theory (ABCT) the artificial lowering of interest rates by the central bank leads to a misallocation of resources because businesses undertake various capital projects that prior to the lowering of interest rates weren’t considered as viable. This misallocation of resources is commonly described as an […]

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The Death of the Internet: A Pre-Mortem

The Death of the Internet: A Pre-Mortem The mythic role assigned to progress in today’s popular culture has any number of odd effects, but one of the strangest is the blindness to the downside that clamps down on the collective imagination of our time once people become convinced that something or other is the wave […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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