The Free Market 16, no. 12 (December 1998) The phrase of the day is “moral hazard.” It’s something everyone seems to think is a bad thing, but few are willing to do anything about, certainly not Alan Greenspan. So far, he’s on record backing the Mexican bailout, the Asian bailout, the bailout of Long-Term Capital Management, and more IMF
The Free Market 26, no. 12 (December 2005) On October 24 President Bush nominated Ben S. Bernanke to replace Alan Greenspan as chairman of the Federal Reserve Board. In response, Wall Street became very excited and pushed the Dow Industrial average up by almost 1.7 percent. The media and the pundit class were overjoyed too. Most experts regard
The Free Market 19, no. 1 (January 2001) Earlier last year (February 17) in testimony before the House Banking Committee, Alan Greenspan argued that increases in productivity tend to create greater increases in aggregate demand than in potential aggregate supply. His reasoning was that productivity increases stimulate optimistic corporate
The Free Market 19, no. 5 (May 2001) A combination of factors has elevated the Federal Reserve and its chairman to mythical status amongst the corporate and media elite. The publishing of summaries of meetings of the Federal Open Market Committee, which started in 1994, gave reporters and bond traders more information than ever before to fuel
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.