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BIS Working Papers No 136 the Price Level, Relative Prices and Economic Stability: Aspects of the Interwar Debate by David Laidler* Monetary and Economic Department
BIS Working Papers No 136 The price level, relative prices and economic stability: aspects of the interwar debate by David Laidler* Monetary and Economic Department September 2003 * University of Western Ontario Abstract Recent financial instability has called into question the sufficiency of low inflation as a goal for monetary policy. This paper discusses interwar literature bearing on this question. It begins with theories of the cycle based on the quantity theory, and their policy prescription of price stability supported by lender of last resort activities in the event of crises, arguing that their neglect of fluctuations in investment was a weakness. Other approaches are then taken up, particularly Austrian theory, which stressed the banking system’s capacity to generate relative price distortions and forced saving. This theory was discredited by its association with nihilistic policy prescriptions during the Great Depression. Nevertheless, its core insights were worthwhile, and also played an important part in Robertson’s more eclectic account of the cycle. The latter, however, yielded activist policy prescriptions of a sort that were discredited in the postwar period. Whether these now need re-examination, or whether a low-inflation regime, in which the authorities stand ready to resort to vigorous monetary expansion in the aftermath of asset market problems, is adequate to maintain economic stability is still an open question. BIS Working Papers are written by members of the Monetary and Economic Department of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The views expressed in them are those of their authors and not necessarily the views of the BIS. -
Preaching Free-Market Gospel to Skeptical Africa by JASON DEPARLE the United States, Where He Joined a Dinner Distrust
THE CONSERVATIVE REACH Second of two articles Mariella Furrer for The New York Times James Shikwati, executive director of the Inter Regional Economic Network, talked to Kenyan farmers about a spring. Preaching Free-Market Gospel to Skeptical Africa By JASON DEPARLE the United States, where he joined a dinner distrust. In translating Friedrich von of the conservative Heritage Foundation Hayek’s works, the Research Center BUKURA, Kenya — Lawrence W. and toasted an A-list crowd that included for Entrepreneurship Development in Reed’s unusual line of work, coaching Edwin Meese III, the former attorney Vietnam is bringing an über-capitalist to a conservative policy groups, has left general. communist state. Mr. Reed, a Michigan economist, with The unusual collaboration between a Articulate, energetic, gifted at making acolytes across the globe. But none please Midwestern mentor and his African protégé friends, Mr. Shikwati, 36, is one of the him more than James Shikwati, whose can be read in contrasting lights — as a brightest new stars on this little-studied unlikely rise offers a case study of how crafty effort to export Western dominance circuit. In just five years, he has made the right grooms foreign allies. or an idealistic joining of minds in the his byline a ubiquitous presence on the Mr. Shikwati was a young teacher in cause of freedom. While Mr. Reed salutes country’s op-ed pages and gained enough western Kenya when he came across his protégé as a “passionate advocate for respectability to get government ministers an article by Mr. Reed on the genius liberty in an unlikely place,” Jeffrey D. -
Fritz Machlup's Construction of a Synthetic Concept
The Knowledge Economy: Fritz Machlup’s Construction of a Synthetic Concept Benoît Godin 385 rue Sherbrooke Est Montreal, Quebec Canada H2X 1E3 [email protected] Project on the History and Sociology of S&T Statistics Working Paper No. 37 2008 Previous Papers in the Series: 1. B. Godin, Outlines for a History of Science Measurement. 2. B. Godin, The Measure of Science and the Construction of a Statistical Territory: The Case of the National Capital Region (NCR). 3. B. Godin, Measuring Science: Is There Basic Research Without Statistics? 4. B. Godin, Neglected Scientific Activities: The (Non) Measurement of Related Scientific Activities. 5. H. Stead, The Development of S&T Statistics in Canada: An Informal Account. 6. B. Godin, The Disappearance of Statistics on Basic Research in Canada: A Note. 7. B. Godin, Defining R&D: Is Research Always Systematic? 8. B. Godin, The Emergence of Science and Technology Indicators: Why Did Governments Supplement Statistics With Indicators? 9. B. Godin, The Number Makers: A Short History of Official Science and Technology Statistics. 10. B. Godin, Metadata: How Footnotes Make for Doubtful Numbers. 11. B. Godin, Innovation and Tradition: The Historical Contingency of R&D Statistical Classifications. 12. B. Godin, Taking Demand Seriously: OECD and the Role of Users in Science and Technology Statistics. 13. B. Godin, What’s So Difficult About International Statistics? UNESCO and the Measurement of Scientific and Technological Activities. 14. B. Godin, Measuring Output: When Economics Drives Science and Technology Measurements. 15. B. Godin, Highly Qualified Personnel: Should We Really Believe in Shortages? 16. B. Godin, The Rise of Innovation Surveys: Measuring a Fuzzy Concept. -
Intellectual Property and the Development Divide
Seattle University School of Law Digital Commons Faculty Scholarship 1-1-2006 Intellectual Property and the Development Divide Margaret Chon Follow this and additional works at: https://digitalcommons.law.seattleu.edu/faculty Part of the Intellectual Property Law Commons Recommended Citation Margaret Chon, Intellectual Property and the Development Divide, 27 CARDOZO L. REV. 2821 (2006). https://digitalcommons.law.seattleu.edu/faculty/558 This Article is brought to you for free and open access by Seattle University School of Law Digital Commons. It has been accepted for inclusion in Faculty Scholarship by an authorized administrator of Seattle University School of Law Digital Commons. For more information, please contact [email protected]. INTELLECTUAL PROPERTY AND THE DEVELOPMENT DIVIDE Margaret Chon* "The ends and means of development require examination and scrutiny for a fuller understanding of the development process; it is simply not adequate to take as our basic objective just the maximization of income or wealth, which is, as Aristotle noted, 'merely useful and for the sake of something else.' For the same reason, economic growth cannot sensibly be treated as an end in itself. Development has to be more concerned with enhancing the lives we lead and the freedoms we enjoy." -Amartya Sen, Development as Freedom' " * Professor and Dean's Distinguished Scholar, Seattle University School of Law. This Article was incubated in various venues, including the Pacific Intellectual Property Scholars (PIPS) Conference (2003 and 2005), the -
How Far Is Vienna from Chicago? an Essay on the Methodology of Two Schools of Dogmatic Liberalism
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Paqué, Karl-Heinz Working Paper — Digitized Version How far is Vienna from Chicago? An essay on the methodology of two schools of dogmatic liberalism Kiel Working Paper, No. 209 Provided in Cooperation with: Kiel Institute for the World Economy (IfW) Suggested Citation: Paqué, Karl-Heinz (1984) : How far is Vienna from Chicago? An essay on the methodology of two schools of dogmatic liberalism, Kiel Working Paper, No. 209, Kiel Institute of World Economics (IfW), Kiel This Version is available at: http://hdl.handle.net/10419/46781 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Kieler Arbeitspapiere Kiel Working Papers Working Paper No. -
American Historical Association
ANNUAL REPORT OF THE " AMERICAN HISTORICAL ASSOCIATION FOR THE YEAR 1909 . \) I "' 9' ., WASHINGTON 1911 .' LETTER OF SUBMITTAL. SMITHSONIAN INSTITUTION, Washington, D. 0., January 10, 1911. To the Oongress of the United States: In accordance with the act of incorporation of the American His torical Association, approved January 4, 1889, I have the honor to submit to Congress the annual report of the association for the year 1909. I have the honor to be, Very respectfully, your obedient servant, CHARLES D. WALCOTT, ,. Secretary . " 3 , , . - AOT OF INOORPORATION. Be it enacted by the Senate and House of Repre8entative8 of the United State8 of Ame'liea in Oongre88 a88ernlJled, That Andrew D. White, of Ithaca, in the State of N ew York; George Bancroft, of Washington, in the District of Columbia; Justin Winsor, of Cam bridge, in the State of Massachusetts; William F. Poole, of Chicago, in the State of Illinois; Herbert B. Adams, of Baltimore, in the State of Maryland; Clarence W. Bowen, of Brooklyn, in the State of New York, their associates and successors, are hereby creatBd, in the Dis trict of C~lumbia, a body corporate and politic by the name of the American Historical Association for the promotion of historical studies, the collection and preservation of historical manuscripts, and for kindred purposes in the intBrest of American history and of history in America. Said association is authorized to hold real and personal estate in the District of Columbia so far only as may be necessary to its lawful ends to an amount not exceeding five hundred thousand dollars, to adopt a constitution, and make by-laws not inconsistent with law. -
Review of Murray N. Rothbard's an Austrian
Reason Papers 97 Murray N. Rothbard, An Austrian Perspective on the History of Economic Thought, Vol. i & ii (Cheltenham, UK: Edward Elgar Publ., Ltd., 1995), pp.576 & 544; Index; $99.95 each. Parth Shah, University of Michigan, Dearborn I have always enjoyed Professor Rothbard's talks at various Austrian conferences and seminars, especially the ones on the history of economic thought. That subject itself, I think, brought out all the qualities that made Professor Rothbard such a loving and towering figure in Austrian and libertarian circles; his incredible breadth of knowledge, diligent scholarship, disarming sense of humor, perspective coalescing of personal with social and intellectual history, genuine respect for a worthy adversary, and yes, his unwavering dedication to praxeology and liberty. Professor Rothbard's two volumes on the history of thought more than meet the expectations; they encapsulate all those unique qualities of his. It makes it all the more unfortunate that the volumes cover the period only up to about 1870. Taking his cue from his mentor Joseph Dorfman, Professor Rothbard eschews the "Few Great Men approach" (talking about the already anointed), and focuses on the "'lesser' figures... emphasizing the importance of their religious and social philosophies as well as their narrower strictly 'economic' views" (1, p.xii). With Thomas Kuhn's realistic appraisal of the path of progress in science in terms of paradigm shifts, Professor Rothbard dismisses the Whig theory of history and works with no presumption that "later thought is better than earlier" (1, p.x). The acceptance of the zig-zag path of the progress of the discipline promises us "far more human drama than is usually offered in histories of economic thought." (1, p.xiii). -
Everything Voluntary – from Politics to Parenting
Everything Voluntary From Politics to Parenting Edited by Skyler J. Collins Foreword by Chris R. Brown, PhD Everything Voluntary From Politics to Parenting Editor Skyler J. Collins Foreword Chris R. Brown, PhD Contributors Alice Miller Karl H. Meyer Carl Watner Leonard E. Read Daniel Quinn Mark & Jo Ann Skousen David J. Theroux Marshall B. Rosenberg Donald J. Boudreaux Missy Willis Earl Stevens Murray N. Rothbard Hans-Hermann Hoppe Nicholas Hooton Henry Hazlitt Pam Laricchia James Kimmell Richard Ebeling James Luther Adams Robin Grille Jan Hunt Sandra Dodd Jason Hunt Vahram G. Diehl John D. Fargo Wendy McElroy John Holt www.everything-voluntary.com Salt Lake City, Utah Published 2012 by Skyler J. Collins Visit: www.skylerjcollins.com Copyrights held by chapter authors. All rights reserved. Reprinted with permission. Original content licensed under Creative Commons Attribution 3.0 Unported License “V for Voluntary” symbol created by Niels van der Linden, 2007. Visit: www.vforvoluntary.com ISBN–13: 978-1477419892 ISBN–10: 1477419896 BISAC: Philosophy / Ethics & Moral Philosophy To humankind and our posterity. Everything Voluntary – From Politics to Parenting Table of Contents Foreword by Chris R. Brown, PhD ...........................................................................xi Preface .................................................................................................................... xiii Introduction ............................................................................................................. 17 Section -
Libertycon Returns to Serbia
LibertyCon returns to Serbia. European Students For Liberty are bringing LibertyCon Europe, their largest annual conference, to Serbia for the second year. This international event has been hosted in Leuven (Belgium), Berlin (Germany), and Prague (Czech Republic), and this year returns to Belgrade. In April 2018 LibertyCon Belgrade hosted over 750 participants from 50 different countries. The year’s theme “Freer Future” will cover a range of topics from political theory, practical political and economic questions, cryptocurrencies, privacy, security, and startups. This is a great chance to meet students from all over Europe and to get some of our free books and publications to learn more about libertarian philosophy. The conference will be held between April 5-7 at the Ilija M. Kolarac Endowment building. Ticket price is 1000 RSD, and it can be bought online at https://libertycon.net/, or at the Kolarac ticket shop. What does the ticket include? Access to the Conference and all side events; Meals and refreshments; 2 parties - Friday/Saturday; Picnic in cooperation with Kisobran team; Promo materials/swag; Certificate. LibertyCon is a great opportunity to learn about the ideas of liberty, discuss many relevant topics and also to meet fantastic speakers from Europe and the United States. The focus of this conference is not only on the lectures but also on networking. Other than the main program you will get a chance to attend some of the very dynamic workshops, and engage in speed networking where you can exchange contacts with over 100 people in just an hour. Who are the speakers? We are honored to announce our first 3 keynote speakers: 1. -
Libertarian Feminism: Can This Marriage Be Saved? Roderick Long Charles Johnson 27 December 2004
Libertarian Feminism: Can This Marriage Be Saved? Roderick Long Charles Johnson 27 December 2004 Let's start with what this essay will do, and what it will not. We are both convinced of, and this essay will take more or less for granted, that the political traditions of libertarianism and feminism are both in the main correct, insightful, and of the first importance in any struggle to build a just, free, and compassionate society. We do not intend to try to justify the import of either tradition on the other's terms, nor prove the correctness or insightfulness of the non- aggression principle, the libertarian critique of state coercion, the reality and pervasiveness of male violence and discrimination against women, or the feminist critique of patriarchy. Those are important conversations to have, but we won't have them here; they are better found in the foundational works that have already been written within the feminist and libertarian traditions. The aim here is not to set down doctrine or refute heresy; it's to get clear on how to reconcile commitments to both libertarianism and feminism—although in reconciling them we may remove some of the reasons that people have had for resisting libertarian or feminist conclusions. Libertarianism and feminism, when they have encountered each other, have most often taken each other for polar opposites. Many 20th century libertarians have dismissed or attacked feminism—when they have addressed it at all—as just another wing of Left-wing statism; many feminists have dismissed or attacked libertarianism—when they have addressed it at all—as either Angry White Male reaction or an extreme faction of the ideology of the liberal capitalist state. -
Liberty, Property and Rationality
Liberty, Property and Rationality Concept of Freedom in Murray Rothbard’s Anarcho-capitalism Master’s Thesis Hannu Hästbacka 13.11.2018 University of Helsinki Faculty of Arts General History Tiedekunta/Osasto – Fakultet/Sektion – Faculty Laitos – Institution – Department Humanistinen tiedekunta Filosofian, historian, kulttuurin ja taiteiden tutkimuksen laitos Tekijä – Författare – Author Hannu Hästbacka Työn nimi – Arbetets titel – Title Liberty, Property and Rationality. Concept of Freedom in Murray Rothbard’s Anarcho-capitalism Oppiaine – Läroämne – Subject Yleinen historia Työn laji – Arbetets art – Level Aika – Datum – Month and Sivumäärä– Sidoantal – Number of pages Pro gradu -tutkielma year 100 13.11.2018 Tiivistelmä – Referat – Abstract Murray Rothbard (1926–1995) on yksi keskeisimmistä modernin libertarismin taustalla olevista ajattelijoista. Rothbard pitää yksilöllistä vapautta keskeisimpänä periaatteenaan, ja yhdistää filosofiassaan klassisen liberalismin perinnettä itävaltalaiseen taloustieteeseen, teleologiseen luonnonoikeusajatteluun sekä individualistiseen anarkismiin. Hänen tavoitteenaan on kehittää puhtaaseen järkeen pohjautuva oikeusoppi, jonka pohjalta voidaan perustaa vapaiden markkinoiden ihanneyhteiskunta. Valtiota ei täten Rothbardin ihanneyhteiskunnassa ole, vaan vastuu yksilöllisten luonnonoikeuksien toteutumisesta on kokonaan yksilöllä itsellään. Tutkin työssäni vapauden käsitettä Rothbardin anarko-kapitalistisessa filosofiassa. Selvitän ja analysoin Rothbardin ajattelun keskeisimpiä elementtejä niiden filosofisissa, -
03 Black 1749.Indd
BOB BLACK Robert Denis Collison Black 1922–2008 Early years ROBERT DENIS COLLISON BLACK, Bob Black to an international circle of friends, was born 11 June 1922 at Morehampton Terrace, Dublin.1 His father, William Robert Black, was company secretary for a small group of companies in the grain trade.2 His mother was Rosa Anna Mary, née Reid. Dublin at the time of Black’s birth was experiencing considerable disturbance, though he rarely alluded to this.3 Black was educated at Sandford Park School, Dublin. However he became disenchanted with the school4 and contrived, astonishingly, to enter Trinity College, Dublin at the age of 15. Even more remarkably, he seems to have managed perfectly well as a 15-year old amongst much older students. He managed to complete two undergraduate degree courses. He enrolled for a commerce degree, but Trinity at that time required those 1 The family moved to Waltham Terrace when Black was fi ve. Bob Black gave a long and detailed interview to Antoin Murphy and Renee Prendergast which was published in his Festschrift. See A. Murphy and R. Prendergast (eds.), Contributions to the History of Economic Thought. Essays in Honour of R. D. C. Black (London, 2000), p. 3. 2 Black gave another interview which is recorded in K. Tribe, Economic Careers. Economics and Economists in Britain 1930–1970 (London, 1997). See Tribe, p. 96, for the occupation of Black’s father. The latter was a considerable expert in his fi eld. I can remember Black telling me how he could sniff a handful of grain and detect its origin.