Economics and Ethics publication

Comment on Michael V. Szpindor Watson’s “Mueller and Mises: Integrating the Gift and ‘Final Distribution’…

John D. Mueller

While Michael Watson’s effort to fill the theoretical gap in modern ‘neoclassical’ economic theory is welcome, it too falls short through ‘underdetermination,’ attempting to make a single element—the theory of utility—explain both consumption and ‘final distribution.’

Articles

The ‘Missing Element’ in Modern Economics

John D. Mueller

Austrian Economics scholars observe Christmas by gift-giving in even greater proportion than the general population. But this creates an explanatory problem, because no school of modern economics, including the Austrian School, has an adequate theory of personal gifts.

Articles

Money and Inequality

John D. Mueller

Though most economic inequality–both between and within countries–is due to differences in what Nobel economics laureate Theodore W. Schultrz called ‘human capital’,’ the current monetary system also breeds systematic economic inequality among American households.

Articles

 

How the ‘Reserve’ Dollar Harms America

John D. Mueller

The economic crisis of 2008-09 was similar to the crisis that triggered the Great Depression–both caused by the ‘demand duplication’ required by using the dollar as an official reserve currency.

Articles

Wall Street Journal / November 21, 2014

Neo-Scholastic Economics and Social Justice

John D. Mueller

Roughly speaking, scholastic economic theory is the analytical toolkit that the popes have used to discuss the new pastoral challenges of economic history as it unfolds.

Articles

 

Paul Krugman: The Dollar’s Reserve-Currency Role Is A ‘Much Over-Rated Phenomenon’

John D. Mueller

Keynesians who like Professor Krugman engage in magical thinking have never been infrequent. What is new is that they are being joined in growing numbers by Keynesians who don’t.

Articles

Forbes / October 27, 2014

Where the Gold Standard Act of 1984 Came From–and Why It’s Still Relevant

John D. Mueller

The debate that led to Jack Kemp’s Gold Standard Act of 1984 also explains why the agreement on gold that eluded President Ronald Reagan is now finally possible.

Articles

Kemp Forum on Growth / June 11, 2014

The Major Problems Congress Created by Ending the Classical Gold Standard

John D. Mueller

Congress created the three major economic problems that haunt the United States today by ending the classical gold standard.

Articles

(Neo-) Scholastic Economics and Morality

John D. Mueller

Getting the history of economic theory wrong inevitably leads to inferior modern theory, particularly regarding morality and economics.

Uncategorized

Washington, Wall Street and the “Monetary Sin of the West”

John D. Mueller

To speak partly American, partly Wall Street and partly Catholic: the current monetary system violates the first principle of American political economy, qualifies as what Pope John Paul II called a “structure of sin,” and acts as a machine that creates bad apples both in Washington and on Wall Street.

Articles

 

An American Theory of Public Choice

John D. Mueller

Despite its apparent attractions it is time to retire the neoclassical theory of public choice and re-adopt the Founders’ theory of American public choice.

Articles

Fiscal Fitness

John D. Mueller

President Obama will have succeeded, and any candidate of either party contending for the presidency in 2016 will succeed or fail, in precise proportion to these classic and successful principles of American public finance.

Articles

The Weekly Standard / February 25, 2013