G. R. Steele
29 November 2010
1 comment

In the 1920s, the UK economy was deflated as a prelude to the restoration of the gold standard. The Chancellor responsible was Winston S. Churchill. In opposing that policy, John Maynard Keynes...
Philip Booth
26 November 2010

David Willetts defended the government’s decision to spend my money finding out what makes me happy in The Times today (subscription required). He said it was not about creating a nanny ...
G. R. Steele
19 November 2010

As one set of economists warns that rapid debt reduction is likely to plunge the economy into deep recession, another set argues that debt reduction is essential to restore financial stability and...
Bruno Prior
18 October 2010

The purpose of markets is to discover the clearing price at which supply and demand balance. Demand is not simply what people want, but what they choose to put their scarce resources towards in...
Kevin Dowd
18 October 2010

One of the most important issues in the ongoing economic controversy is whether the crisis is due to a “failure of capitalism”. What both sides of this argument often overlook, however,...
Robert Wenzel
13 October 2010

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2010 was awarded jointly to Peter A. Diamond, Dale T. Mortensen and Christopher A. Pissarides. Diamond, 70, is an economist...
Eamonn Butler and Philip Booth
22 July 2010

Philip Booth interviews Eamonn Butler, author of Ludwig von Mises – A Primer.    
Kristian Niemietz
15 July 2010

In the early 1960s, Chicago economist Milton Friedman travelled to Hong Kong to meet Sir John Cowperthwaite, the colony’s Financial Secretary. The economic development of Hong Kong had aroused...
Andre Johnston Phijuntjitr
6 July 2010

It has become increasingly clear that interventionism played a significant role in precipitating the 2008 financial crisis. The Austrian School is more than capable of providing the...
Charles K. Rowley
2 July 2010

For those too young to remember, the mid-1970s witnessed the first demise of Keynesian economics as the much-worshipped Phillips Curve turned positive in depicting the relationship between the rate...
Terry Arthur
16 June 2010
1 comment

" You’re gouging on your prices If you charge more than the rest But it’s unfair competition If you think you can charge less! A second point that we would make, To help...
Anthony J. Evans
25 May 2010

Last month the FT’s Martin Wolf asked a simple question, “Does Austrian economics understand financial crises better than other schools of thought?” After admitting that neo-...
Richard Wellings
6 May 2010

With the opinion polls pointing to a close result and the prospect of a hung parliament, turnout is expected to be relatively high in today’s election. Yet for economists this presents a bit...
Philip Booth
28 April 2010
1 comment

The IEA is delighted that Gary Becker will be giving the Hayek Lecture on June 17th this year. Gary Becker attended Hayek’s evening seminars at the University of Chicago, thus making a nice...
Steven Kates
24 April 2010

There is a video doing the rounds at the moment under the name, the “Keynes-Hayek Rap”, although more formally titled, “Fear the Boom and Bust”. It has had a million hits...
Eamonn Butler
21 April 2010

Not enough people know the name of Ludwig von Mises (1881-1973). I hope my new Primer for the IEA will help change that. Mises brought new life and insights into the Austrian School of economics,...
Richard Wellings
10 March 2010
1 comment

In this extract of an interview with John O’Sullivan, F. A. Hayek discusses the Great Depression and the influence of John Maynard Keynes. Professor Hayek explains that he spent a year...
Steven Kates
8 March 2010

I am now on a 40,000 kilometre round trip to present a paper that will last but a single hour. The nature of this trip can be understood in the context of the invitation I received: “On behalf...
John Blundell
15 January 2010

Six weeks before he died in late April 1946, Keynes was visited by Hayek, who told me the conversation went something like this: HAYEK: What if you are wrong? KEYNES: Don’t worry. If I...
Peter King
12 January 2010

I recently had a discussion with a commissioning editor of an academic publishing house who informed me that any new book proposal to do with New Labour stood little chance of getting published, but...