Capital and Interest Theory
The Social Consequences of Zero Interest Rates
As Japan has shown, ultralow interest rates can greatly affect a society that was once impressively focused on innovation and investment.
Remembering Ulrich Fehl, German Economist and Prominent Scholar with a Deep Knowledge of Austrian Economics
Ulrich Fehl, professor emeritus at Marburg University, passed away November 9, 2019. Prof. Fehl is remembered in this tribute by his student, Peter Engelhard
An Overlooked Scenario of “Reswitching” in the Austrian Structure of Production
Reswitching indicates that the average production period is not necessarily a decreasing function of the interest rate. Granot's generic model of the structure of production shows behavior resembling reswitching.
Remembering Ulrich Fehl, German Economist and Prominent Scholar with a Deep Knowledge of Austrian Economics
Ulrich Fehl, professor emeritus at Marburg University, passed away November 9, 2019. Prof. Fehl is remembered in this tribute by his student, Peter Engelhard
The Wealth Effect and the Law of Demand: A Comment on Karl-Friedrich Israel
Addressing a problem that Karl-Friedrich Israel perceived in Salerno's chapter "The 'Income Effect' in Causal-Realist Price Theory," Salerno contends that Israel's resolution implies a denial of the law of demand.
Rothbard on Why We Need Entrepreneurs
Capitalists and entrepreneurs serve distinct functions in the real economy. Capitalists save money that then maintains production processes until final goods are produced. Entrepreneurs adjust the capital structure in light of uncertainty to produce the most desired goods. Capitalists are rewarded with interest, entrepreneurs with profit.
Keynes and the Euthanasia of the Rentier
Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.
Human Action Part Four with Dr. Joe Salerno
If you've wanted to read Human Action, this is your opportunity to hear it explained by great economists and scholars!
The Era of Boom and Bust Isn’t Over
Central banks have done nothing to end the boom-and-bust cycle. Instead, their unscrupulous interventions in credit markets just prolong the boom. But it's a huge mistake to assume that bringing market interest rates to zero will create a perpetual boom.