I guess we always knew it: speed has never been the strong suite of government, unless it’s something like enacting a Freon ban on the basis of junk science. The announcement of the permanent withdrawal of the British-French supersonic airliner from service joins a long list of similar, failed public enterprises, although at 34 years, this
Many people believe that the world economy is undergoing pressures of a deflationary nature. It is true that a recessionary environment dominates industrialised countries (at least in America, Europe and Japan). However, this is coupled with price increases in several important market sectors in both wholesale and retail sectors. The real risk
The accusations against Wal-Mart are numerous, and they include: paying overseas workers too little; not paying benefits to part-time workers; refusing to sell items that don’t fall within its criteria for being “family-oriented”; not giving enough back to the community; and discriminating against women. All the accusations leveled against
In the spring of 2002, Bush signed into law a witches-brew of protectionist legislation designed to stifle foreign trade in the name of free trade. In March, he imposed various tariffs ranging from 8 to 30 percent upon imported steel. In May, he signed a $170 billion farm bill lavishing $10 billion of annual subsidies upon America ‘s already
Never before in recent history have monetary and fiscal policies been as “stimulative” as today, and yet, the American economy remains weak and vulnerable. The Federal budget deficit for the 2003 fiscal year was posted at $555 billion, some six percent of GNP; it may continue to rise in coming years when new tax reductions add their weight. The
Sympathy and justice are wonderful. I’m all for them. But neither is furthered by the ”living wage” movement. My own university, to its great credit, hasn’t surrendered in undeserved guilt, as a couple of letters in the student newspaper and our Interim President’s appropriate and courageous response to protestors illustrate. But I think the
As pointed out by Professor Kirzner (2001, pp. 137, 140), Mises did not start out with the intent to develop a theory of the trade cycle. The trade cycle argument first appeared in the last few pages of The Theory of Money and Credit (1912). This early development of Austrian business cycle theory was a direct manifestation of Mises’s rejection of
From shiftless bum to employee. Who can argue with that? Apparently the usual suspects at Commercial Alert, one of Ralph Nader’s anti-capitalist “watchdog” organizations. Gary Ruskin, director of Commercial Alert, said the homeless who act as billboards should be paid minimum wage. “If they don’t get minimum wage, this is exploitation,” he said.
A day of love, romance, and of course, the market process. Today, lovers across the U.S.—and Canada, Mexico, Australia, New Zealand and much of Europe—bought roses for their sweethearts. A beautiful gift, roses are. Pricey too, especially on Valentine’s Day. Nationwide, rose prices are often double on Valentine’s Day from what they are on most
Since January 2002 the U.S. dollar has fallen by 25.6% against the Euro and 13.2% against the yen. Most experts are of the view that the sharp fall in the dollar is the result of the fact that American imports of goods by far exceed exports of goods. In March the trade gap stood at $43.5 billion, not far from the record deficit of $44.9 billion in
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.