Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 85–100 This book tells its readers a great deal about the inner workings of mainstream economics, particularly behavioral economics. This review details just how far the profession has drifted from reality. My general impression is that the authors are simply putting forth their
You have probably heard of the controversial TPP, the Trans-Pacific Partnership, the deal that Hillary Clinton can’t make up her mind on. However, you probably have not heard of the Transatlantic Trade and Investment Partnership (TTIP). It is referred to as a free trade pact between the United States and the European Union. I only recently read
In a recent blog post, Brad Delong welcomes one Jason Kuznicki to the bizzaro world of bradford-delong.com: Grasping Reality with the Invisible Hand... Delong declares that he is very happy to welcome him to this world: Very happy to have another social-libertarian and pro-freedom voice in the Democratic Party.” And on the economics... Jason: if
It is widely acknowledged that healthcare in the United States is the most expensive in the world. Per capita expenditures are roughly double that of other major economies . Some will argue that you get what you pay for, but the quality of care in the US is usually ranked as mediocre. This combination of high cost and poor performance resulted in
In the US, many pension plans are hopelessly underwater as the economy heads into troubled times. State employee pension plan are $1 trillion in the red, local government employee pensions are nearly $500 billion in deficit, and even employer-funded pensions (buoyed by rising stock and bond markets) are showing problems. Of course the Social
Simon Black reports that Secretary of the Treasury, Jack Lew, just released the government’s audited financial statement for 2015 and it makes Bernie Madoff’s books look like Warren Buffet’s financial statements! To begin with, the federal government reportedly has $3.2 trillion in assets, but that includes rusty tanks, outdated weapon systems,
It is obvious to most people that real tax reform means reducing taxes and government spending. However, in the current tax reform “package” there are all sorts of changes in the tax rates, tax brackets, deductions, exemptions etc. But the end result is virtually no net tax relief, little economic growth, and a substantial increase in debt. Most
Since before covid-19 and the lockdown, I have written articles that touch on the purpose and importance of personal savings, and more importantly, why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans. As a result, I have been interviewed a couple of times specifically on the
Austerity: When It Works and When It Doesn’t de Alberto Alesina, Carlo Favero y Francesco Giavazzi Princeton: Princeton University Press , 2019, xvi + 245 pp. Mark Thornton (mthornton@mises.org) es catedrático emérito del Instituto Mises y Editor de Revisión de Libros de la QJAE. Quarterly Journal of Austrian Economics 22, no. 1 (primavera de
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.