Keynesian Predictions vs. American History | Thomas E. Woods, Jr.

Presented by Thomas E. Woods, Jr. at "The Failure of the Keynesian State," the Mises Circle in Houston, sponsored by Jeremy S. Davis. Recorded Saturday, 23 January 2010. Includes introductory remarks by Mises Institute president Douglas E. French.

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  News & Politics

[Tabris Esfahani]

The lower the interest rate, especially when the inflation rate is higher than the real rate means that anyone taking a loan was essentially borrowing for free. It also distorts the true cost of future projects by making unprofitable ones into good ventures, incentivizes people to borrow across the board, from main street to wall street, and harms savings. There's no stronger incentive to borrow than when you're being paid to do it.

[WARLock1228]

Inflation does not solve the problem of unemployment. It's just a way to take wealth from some and give it to others without people realizing it.

[Anastrodamus1]

The Austrian theory is definitely easy to understand. But who says some things have to be easy to understand to be correct?

[fastphys]

why does the mises institute always play creepy music before and after their videos?

[christo930]

I think things could play out this year. Also, Canada has a big housing bubble it is quietly trying to deflate.

[Sm3rti]

"China has a massive property bubble and a great deal of debt, especially at the local level."

Sounds all to familiar, doesn´t it? The stage seems set for the next crisis.

[halloranedward]

Are we really still calling agents of the communist party "Keynesian economist" seriously? The agenda has never changed and the results have not changed, all that has changed is the language and the republican party supporting socialism.

[J Scott Upton]

People can debate who predicted what and when. But it seems to me that the matter of central planning's inability to accurately set prices, set interest rates, or pick the right investments proves what the Austrians are saying.

[Somespatanwarrior]

I love this guy for the comedy he brings to the economic table.

[christo930]

I am not saying China is perfect, far from it. However, there can be no denying that millions of people have been lifted from poverty into middle class life or are heading in the direction. OTOH, China has a massive property bubble and a great deal of debt, especially at the local level.