Letter to the Editor The Wall Street Journal September 4, 1998 Uncanny Parallels Between ‘20s and ‘90s James Grant’s (”The Coming Bust,” editorial page, Aug. 28) debunking of the Pollyanna-like forecasts of economists and Wall Street gurus was right on target, especially the reference to Austrian business-cycle theory showing that central bank
Here is a news piece from Investor’s Business Daily (Nov. 23, 1998) dealing squarely with one of the most interesting monetary issues of the day. The author quotes some well-known Austrian economists to help sort it all out. Are the vast amounts of U.S. currency held overseas a threat to the U.S. economy? Whether for spending or saving, most
More starvation and disease or bombers and cruise missiles--these are the only actual choices Washington offers Iraq. No wonder Saddam will risk being bombed to end the economic blockade. United Nations’ authorities have officially recognized Iraq’s compliance with Resolution 687, the basic cease fire resolution, for the destruction of all its
Submitted to the Wall Street Journal October 14, 1998 To the Editor: What is missing in the debate between proponents of a fixed-exchange-rate regime, such as the editors of the Wall Street Journal (”Reforming the World,” 7 October), and proponents of a floating-exchange-rate system, like Milton Friedman (”Markets to the Rescue,” 13 October), is
Investor’s Business Daily September 3, 1998 Perspective “Dollar Contrarians” The Federal Reserve says that more than half of all U.S. currency is now held overseas. The dollar has now become the currency of choice for much of the world. And it has replaced gold as the global financial standard. That has some economists worried. “What happens if
President Bill Clinton went to Russia, a country whose economy is still crippled by massive state ownership and control, where private property is not secure, contracts are not enforced, and enterprise is free in name only. What did he say? He opened his speech with praise for Stalin’s military victories, which occurred in the midst of the Gulag,
The Journal of Commerce September 7, 1998 Strange things happened at General Motors this summer. Huge swatches of its highly paid, coddled, unionized labor force went on strike. The result was catastrophic: GM plants all over North America shut down, causing the company to lose $75 million a day, idling 175,000 other workers, causing an 81% drop
In his speech on the world economy before the Council on Foreign Relations, President Clinton said that the most pressing problem facing us is global “financial turmoil.” But his solutions take us entirely in the wrong direction. He recommends more IMF funding, more environmental and labor regulations, and a new international conference to create
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.