Navigation

Author Archive | krlatham

barclays

The Real Problem with Barclays

By on July 16, 2012 in Economics in Media, Finance
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).…
Continue Reading 0
krugman3

Krugman does not understand Austrian Economics

By on June 25, 2012 in All Posts, Economic Theory
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…
Continue Reading 0
Bubbles

Bubble Ahoy!

By on April 23, 2012 in All Posts
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…
Continue Reading 0
Chrysler

Did Obama save Chrysler?

By on February 2, 2012 in All Posts
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…
Continue Reading 1
Dollars

The Origin of Money

By on January 25, 2012 in All Posts, Economic Theory
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…
Continue Reading 6