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Some Confusions of Language in Economic Thought

SOME CONFUSIONS OF LANGUAGE IN ECONOMIC THOUGHT Fifty years ago, in 1968, Austrian (and Austrian school) economist Friedrich A. Hayek published a monograph called The Confusion of Language in Political Thought [4]. Hayek argued that the words we use and the meanings we give to them greatly influence how we think about the political system and the […]

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The Myth That Central Banks Assure Economic Stability

THE MYTH THAT CENTRAL BANKS ASSURE ECONOMIC STABILITY The world has been plagued with periodic bouts of the economic rollercoaster of booms and busts, inflations and recessions, especially during the last one hundred years. The main culprits responsible for these destabilizing and disruptive episodes have been governments and their central banks. They have monopolized the […]

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The Relevance of Hayek’s Triangle Today

THE RELEVANCE OF HAYEK’S TRIANGLE TODAY Most of us are aware of the inflationary pressures in the major economies, that so far are proving somewhat latent in the non-financial sector. But some central banks are on the alert as well, notably the Federal Reserve Board, which has taken the lead in trying to normalise interest […]

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Mises the Man and His Monetary Policy Ideas Based on His “Lost Papers”

MISES THE MAN AND HIS MONETARY POLICY IDEAS BASED ON HIS “LOST PAPERS” One day in 1927 Austrian economist, Ludwig von Mises, stood at the window of his office at the Vienna Chamber of Commerce, and looked out over the Ringstrasse (the main grand boulevard that encircles the center of Vienna). He said to his young friend […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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