Monetary Theory / George Reisman

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La economía clásica frente a la teoría de la explotación

World HistoryCalculation and KnowledgeCapital and Interest TheoryMonetary TheoryOther Schools of Thought

03/21/2019Mises Daily Articles
El capitalismo no solo no es un sistema de explotación del trabajo, sino que el sistema real de explotación del trabajo es el socialismo.
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Classical Economics vs. The Exploitation Theory

World HistoryCalculation and KnowledgeCapital and Interest TheoryMonetary TheoryOther Schools of Thought

03/21/2019Mises Daily Articles
Not only is capitalism not a system of the exploitation of labor, but the real system of the exploitation of labor is socialism.
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Boom-Bust in Microcosm

Booms and BustsThe EntrepreneurEntrepreneurshipMonetary Theory

11/08/2010Mises Daily Articles
The key to avoiding "busts" is to avoid the credit expansion and "booms" that cause them. Booms are not periods of prosperity but of the squandering of wealth. The longer they last, the worse is the devastation that follows.
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A Pro-Free-Market Program for Economic Recovery

Booms and BustsThe FedFinancial MarketsMonetary Theory

11/20/2009Mises Daily Articles
Finally, the freedom of wage rates and prices to fall must be established through the repeal of pro-union and minimum-wage legislation, and more fundamentally, the education of the public concerning the errors of the Marxian exploitation theory and their replacement with actual knowledge of what...
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Standing Keynesianism on Its Head

Free MarketsInterventionismMonetary TheoryOther Schools of Thought

04/20/2009Mises Daily Articles
Seeking to provide the intelligent layman with sufficient knowledge of sound economic theory to enable him to understand what must be done to overcome the present financial crisis and return to the path of economic progress and prosperity.
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Economic Recovery Requires Capital Accumulation, Not Government "Stimulus Packages"

Free MarketsEntrepreneurshipHistory of the Austrian School of EconomicsMonetary Theory

02/25/2009Mises Daily Articles
The reason for this is that all production, including any new and additional production called into being by stimulus packages, itself entails consumption. And this consumption tends at the very least to approximate the fresh production and, indeed, is capable of equaling or even exceeding it.
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Our Financial House of Cards

The FedGold StandardMonetary Theory

03/25/2008Mises Daily Articles
Thus, to say it all in one sentence, the threat of massive deflation can be eliminated, the threat of inflation ended, and the actual and potential domain of economic freedom greatly expanded, for $11 billion — an $11 billion that would not even be an out-of-pocket expense to anyone but merely a...
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Credit Expansion, Economic Inequality, and Stagnant Wages

The FedFinancial MarketsMonetary Theory

01/14/2008Mises Daily Articles
Since it's so important, the main point just made needs to be repeated: credit expansion creates an artificial economic inequality by showing up in the stock market and driving up stock prices. Since the stocks are owned mainly by wealthy people, they are the main beneficiaries of the process. The...
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The Anatomy of Deflation

Money and BanksMonetary TheoryValue and Exchange

08/18/2003Mises Daily Articles
Deflation is usually thought to be a synonym for falling prices. There could be no more serious error in all of economics, writes George Reisman. Calling falling prices "deflation" results in a profound confusion between prosperity and depression. This is because the leading cause of falling prices...
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WorldCom as Piker: Profit Inflation by the U.S. Government

Financial MarketsMoney and BanksCapital and Interest TheoryInterventionismMonetary Theory

08/10/2002Mises Daily Articles
News reports now indicate that WorldCom's overstatement of its profits in the last few years may exceed initial reports. But, writes George Reisman, whatever the ultimate figure may be—$7.1 billion or even $10 billion—it pales into insignificance in comparison with the overstatement of profits...
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