If you’ve been following the news lately then you have probably heard something about Barclays and interest rate fixing. Barclays is a massive banking corporation based in the UK with a large world-wide presence. By ‘interest-fixing’ financial commentators mean Barclay’s lied about the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR).…
About krlatham
I recently graduated from Grove City College with a Degree in economics. I am currently interning for the summer at the Bluegrass Institute for Public Policy in Kentucky. In my spare name I like reading, writing, and hiking.Author Archive | krlatham
The Triumph of South Park Economics? (part 2)
As the title indicates, this post is the follow up to a previous post. I recommend reading it before jumping into this one.
Enter Stan Marsh, just trying to return his family’s margarita maker. If there is any redemptive part of “Margaritaville” it is here.
First Stan attempts to return it to the retailer. The…
The Failure of South Park Economics (part 1)
In a previous post, I lauded the economic lessons of South Park’s “Cash for Gold” episode. In this post, I must reverse my praise for the economics in an earlier episode, “Margaritaville.” The episode originally aired in early 2009 amid intense public debates over the global financial crisis.
The episode took on the cornucopia of …
Krugman does not understand Austrian Economics
The title should be no surprise by now. Paul Krugman–arch-Keynesian–is once again misrepresenting what Austrian economics is. Krugman thinks the recent financial crisis can test (and prove) the superiority of Keynes prescriptions for an ailing economy.
Before we delve into the specifics, consider the alternatives Krugman proposes: classical economics (he considers Austrian among them) and…
Bubble Ahoy!
Is the economy in for another bubble? We’ve seen the housing bubble pop, and before that we had a tech bubble. These events divide the profession, as every economist has their own pet theory describing bubbles. Economics news hunters seek these bubbles much like Ahab sought Moby Dick; the first to spot the bubble (or…
The Irrefutable Logic of South Park Economics
A recent episode of South Park got me thinking that Matt Stone and Trey Parker just may know basic economics. The episode attempts to explain the jewelry business. It depicts old people buying jewelry at ridiculous prices from a home shopping channel and then giving it as gifts to their children. The children immediately take…
‘Tax cuts have never extinguished a fire’ and other such nonsense
Sometimes anti-government rhetoric can go too far, as Katrina vanden Huevel points out at The Nation. While it may be endearing and folksy to accuse the government of getting in the way of business and job creation, Huevel thinks it is dead wrong.
And common sense seems to be on her side. Look at all…
Disingenuous Critics Swing and Miss at Ron Paul’s Economics
A recent Huffington Post article really tore into Ron Paul’s economics. It accused Paul of being disingenuous and perhaps a bit ignorant. The article accuses Paul of being an incurable ideologue when it comes to practicing free trade.
Claim #1: “So Rep. Paul is in favor of free trade in theory, he’s just not in…
Did Obama save Chrysler?
That is very much the impression I got after reading this article from Think Progress the other day. And the facts are certainly there. Huge profits, debt repayment, a promising future, and plans to expand production and create jobs. Couldn’t have gone better, right?
I agree with the author that Chrysler is doing well because…
The Origin of Money
A few weeks ago a blogger at CNBC discussed the relative merits of Austrian monetary theory in comparison to modern monetary theory (MMT). The issue at stake is the origins of money: Austrians highlight the fact money comes into existence as the medium of exchange, while MMT points to governments requiring people to pay taxes…
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Reality TV Inventor Loses Big to ‘Buy American’ Fallacy
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Unlearning Economics
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MIT Economist, Former IMF Chief Engages Ron Paul on Banking and Makes an Interventionist Mistake
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The Monopoly Bogeyman
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How My Naïve Perception of the Economics Profession Eventually Changed
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Tenets of Economic Faith
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Economics as Religion: The Paradox of Self-Interest
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Waging War on Work
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The Dark Side of Monetary Inflation
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In Praise of Speculators
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Chris A: With due respect Nicholas, I think is has zero int...
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Nicholas Freiling: Chris, What effect do you think economic inter-...
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David: Doesn't the Fed increase the money supply by purc...
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