Robert P. Murphy
Business & Economics
Is The Big Three Crisis Obama’s PATCO?
President-elect Obama faces serious economic challenges, including demands for a bailout of the Big Three automakers. America’s new president can find lessons in the way Ronald Reagan, the last president to assume office amidst such turmoil, handled a similar labor-dominated crisis. Ronald Reagan, the first union leader to be president ...
Business & Economics
Did the Fed, or Asian Saving, Cause the Housing Bubble?
Ludwig von Mises Institute, November 19, 2008 Just about the only good thing to come out of the housing bubble is that many financial analysts are coming to see the virtue of the Austrian theory of the business cycle. Specifically, though Greenspan did his best to blame deregulation and foreigners ...
Business & Economics
Government intervention, not market failure, explains crisis
Jason Clemens and Robert Murphy are the authors of this guest commentary. Jason Clemens is the director of research and Robert Murphy, Ph.D., is a senior fellow at the Pacific Research Institute (www.pacificresearch.org). A financial crisis is gripping the nation and the global economy. This crisis, according to a growing ...
Business & Economics
Paulson’s Plan Making Things Worse
U.S. financial markets continue to implode, yet government officials assure the American people that the problem is under control. More economists, however, are starting to realize that the government’s constantly evolving rescue plan is contributing to the instability. When the House of Representatives failed to pass the original request for ...
Business & Economics
Blatant Contradictions From Larry Kudlow
I have always liked Larry Kudlow. When I was growing up as a budding free marketeer, there was a natural disaster (I don’t remember which one) and everyone was calling for the president (must have been Reagan) to disburse disaster assistance for rebuilding. I didn’t like that answer, but I ...
Business & Economics
Riding the Revenue Rollercoaster
After a record impasse, the sages of Sacramento have finally agreed on a budget for California, a $144-billion bonanza with unprecedented general fund spending but without structural reform in the state’s finances. The boom-bust revenue rollercoaster is still in place, and Californians can expect a bigger budget crisis in a ...
Business & Economics
Let Entrepreneurs Fix the Problem Government Made
As the financial crisis intensifies, we hear ever more claims that emergency times justify government measures unthinkable a mere 14 months ago. Even some libertarians, who would cry foul if a third world dictator nationalized an industry, are calling for the government to take equity positions in major financial institutions. ...
Business & Economics
The Great Bank Robbery of 2008
The Great Bank Robbery of 2008 The Paulson bailout failed in the House. If it isn’t a death blow to the plan, it should be. This is not an economic plan: it is a heist. It will go down as The Great Bank Robbery of 2008. The economics behind it ...
Business & Economics
Conservatives Should Oppose Corporate Welfare
Although they are just playing the hand that Alan Greenspan dealt them, Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson have been working overtime to discredit the capitalist economy. The $700 billion bailout of Wall Street, as well as other measures such as a ban on short-selling financial stocks, ...
Business & Economics
Wall Street plan won’t aid recovery
Last week the government took extraordinary measures to restore calm to the financial markets. Besides the takeover of insurer American International Group, the government banned short-selling of 799 financial stocks and floated a plan to buy up risky mortgage-backed assets. These actions, unfortunately, may prove incredibly costly to the taxpayer, ...
Is The Big Three Crisis Obama’s PATCO?
President-elect Obama faces serious economic challenges, including demands for a bailout of the Big Three automakers. America’s new president can find lessons in the way Ronald Reagan, the last president to assume office amidst such turmoil, handled a similar labor-dominated crisis. Ronald Reagan, the first union leader to be president ...
Did the Fed, or Asian Saving, Cause the Housing Bubble?
Ludwig von Mises Institute, November 19, 2008 Just about the only good thing to come out of the housing bubble is that many financial analysts are coming to see the virtue of the Austrian theory of the business cycle. Specifically, though Greenspan did his best to blame deregulation and foreigners ...
Government intervention, not market failure, explains crisis
Jason Clemens and Robert Murphy are the authors of this guest commentary. Jason Clemens is the director of research and Robert Murphy, Ph.D., is a senior fellow at the Pacific Research Institute (www.pacificresearch.org). A financial crisis is gripping the nation and the global economy. This crisis, according to a growing ...
Paulson’s Plan Making Things Worse
U.S. financial markets continue to implode, yet government officials assure the American people that the problem is under control. More economists, however, are starting to realize that the government’s constantly evolving rescue plan is contributing to the instability. When the House of Representatives failed to pass the original request for ...
Blatant Contradictions From Larry Kudlow
I have always liked Larry Kudlow. When I was growing up as a budding free marketeer, there was a natural disaster (I don’t remember which one) and everyone was calling for the president (must have been Reagan) to disburse disaster assistance for rebuilding. I didn’t like that answer, but I ...
Riding the Revenue Rollercoaster
After a record impasse, the sages of Sacramento have finally agreed on a budget for California, a $144-billion bonanza with unprecedented general fund spending but without structural reform in the state’s finances. The boom-bust revenue rollercoaster is still in place, and Californians can expect a bigger budget crisis in a ...
Let Entrepreneurs Fix the Problem Government Made
As the financial crisis intensifies, we hear ever more claims that emergency times justify government measures unthinkable a mere 14 months ago. Even some libertarians, who would cry foul if a third world dictator nationalized an industry, are calling for the government to take equity positions in major financial institutions. ...
The Great Bank Robbery of 2008
The Great Bank Robbery of 2008 The Paulson bailout failed in the House. If it isn’t a death blow to the plan, it should be. This is not an economic plan: it is a heist. It will go down as The Great Bank Robbery of 2008. The economics behind it ...
Conservatives Should Oppose Corporate Welfare
Although they are just playing the hand that Alan Greenspan dealt them, Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson have been working overtime to discredit the capitalist economy. The $700 billion bailout of Wall Street, as well as other measures such as a ban on short-selling financial stocks, ...
Wall Street plan won’t aid recovery
Last week the government took extraordinary measures to restore calm to the financial markets. Besides the takeover of insurer American International Group, the government banned short-selling of 799 financial stocks and floated a plan to buy up risky mortgage-backed assets. These actions, unfortunately, may prove incredibly costly to the taxpayer, ...
