September 2022

Sun Mon Tue Wed Thu Fri Sat
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30  
Blog powered by Typepad

« But Brad Please Tell Your Readers That Many Economists Said Bush Was Horrible from the Start | Main | Stimulus or Carpe Diem? The New Deal Wasn't a Stimulus Package Either »


Feed You can follow this conversation by subscribing to the comment feed for this post.

Dr. Boettke,

I have found the following three articles by Sargent on hyperinflation:

"Rational Expectations and the Dynamics of Hyperinflation"
Thomas J. Sargent, Neil Wallace
International Economic Review, Vol. 14, No. 2 (Jun., 1973), pp. 328-350

"The Demand for Money During Hyperinflation under Rational Expectations: II"
Michael K. Salemi, Thomas J. Sargent
International Economic Review, Vol. 20, No. 3 (Oct., 1979), pp. 741-758

"The Demand for Money during Hyperinflations under Rational Expectations: I"
Thomas J. Sargent
International Economic Review, Vol. 18, No. 1 (Feb., 1977), pp. 59-82

Are there any others you would recommend with respect to the idea that "hyper-inflations are everywhere and always preceeded by fiscal imbalance."


Pete's recent posts remind me of the final few chapters in Mises's Human Action.

Keep goin', Pete. Keep goin'

Bravo! Timely and well put!

Dr. Boettke,

One of my absolute favorite posts. Which is saying something for this blog.

Over the last few days I've been thinking about this downturn as the world-wide phenomenon that it's become. One begins to wonder why now, and what could be the possible underlying cause/s for similar events under differing types of regimes; some more statist and some more free market.

My own suspicion is that it was easy credit growing out of government action and the monetary policies of central banks. It's led me to think that the discussion of rationality/ irrationality should be directed more at the system under which people function rather than at individual actors. After all, when the system encourages people to pursue morally and fiscally hazardous behavior why is it surprising that they do.

That's why the whole discussion on greed and/or inadequate regulations/transparency being the root cause of the problems here in the U.S. seem ultimately problematic for me. They don't answer the question of why world-wide?

Does anyone have any thoughts on why the current difficulties are so widespread?

I personally have lived most my life in the desert of the SW us and hearing these different politics makes me thank the earth is playing high and low tides at the sun itself. I think it only natural of mankind to try to solve this problem but economics is putting the majority of people on the edge in that it is good if we just understand that the love of money is the root of all evil and that we should have let nature take its course in the car indaustrys and such and also I believe the was is finally backlashed to test our strength to see if we had enough for the war. A good leadeer always checks first to see if he can afford a war is why I say the natural course would have been maybe two years of hard time them the slump would have started anew woth work and its own stimulus. Now the people are going to want money thank about it god bless


I'd like to have access to a copy of Some Basic Economics of Public Policy in a black on white format. The short article by Boettke is beautiful but the format is unusable and unreferenceable, IMHO.

Brian Wright
[email protected]

The comments to this entry are closed.

Our Books