Remember that credit is money. —Benjamin Franklin The June 2023 Supreme Court decision to reject the Biden administration’s plan that pandered to those claiming impoverishment by the costs of higher education is a second-act curtain on the student debt drama. A third act in the drama was outlined by President Biden on June 30 using piecemeal
I put for the general inclination of all mankind, a perpetual and restless desire of power after power, that ceaseth only in death. —Thomas Hobbes, The Leviathan California continues to attack businesses and entrepreneurial freedom. Leviathan has awakened, this time with Assembly Bill 257, promoting a state-controlled trade union for all
Continued inflation inevitably leads to catastrophe. —Ludwig von Mises Consumers’ behaviors cause the consumer price index (CPI) broad heading of food to understate the real or wallet level of inflation. It is much worse than the top line statistic—it is a serious offense to the poor and fixed-income citizens. The CPI measures nominal dollar
Modern secular society embraces a new religion complete with prophets, crusaders, commandments, contrition, and even a holy land: East Anglia, United Kingdom. These congregants will behave idiosyncratically in the economy. The activist green movement increasingly parallels Western religious structure, even generating a modern version of the
A student goes into a bank. He tells the personal loan banker, “I want to borrow $7,500 per year for the next four or five years.” “That’s at least $30,000 over time,” the banker says. “Personal loans have a 10 percent interest factor.” “For my loan,” says the student, “I need an interest rate close to a home mortgage, like 6 percent. Also, I
To me, a wise and humane policy is occasionally to let inflation rise even when inflation is running above target. —Janet Yellen We have sighted the enemy and he is us. —Pogo On July 26, 2023, the Federal Reserve raised interest rates by a quarter of a percentage point. By the time you read this, your credit card interest rate will probably have
The leviathan does not rest in pursuing free universities, creeping ahead unchecked by either reason, law, or accounting principles. Why is student assessment of their federal-debt-financed degrees so low? Why are 26 percent of past payments delinquent ? More than 50 percent of students agree that they either studied the wrong major or wasted time
Recuerda que el crédito es dinero. —Benjamín Franklin La decisión de la Corte Suprema de junio de 2023 de rechazar el plan de la administración Biden que complacía a quienes alegaban empobrecimiento por los costes de la educación superior es un telón de segundo acto en el drama de la deuda estudiantil. Un tercer acto del drama fue esbozado por el
Pongo por inclinación general de toda la humanidad, un perpetuo e inquieto deseo de poder tras poder, que sólo cesa con la muerte. —Thomas Hobbes, El Leviatán California sigue atacando a los negocios y a la libertad empresarial. El Leviatán ha despertado, esta vez con la Ley de la Asamblea 257, que promueve un sindicato controlado por el Estado
La inflación continuada conduce inevitablemente a la catástrofe. —Ludwig von Mises El comportamiento de los consumidores hace que el índice de precios al consumidor (IPC), rúbrica amplia de alimentos, subestime el nivel real o de cartera de la inflación. Es mucho peor que la estadística de la línea superior: es una grave ofensa para los ciudadanos
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.