Through their power to control banking, central banks are unnecessary barriers to commerce. Even those who have spent their entire lives in banking, often in positions of great importance and responsibility, assume that cooperative exchange of goods and services requires a central bank’s oversight. But consider a typical trade, whether foreign or
Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly clear from the start: this policy has been tried by many central banks many times and all such attempts have led to economic disaster. The latest
Tal vez la premisa más destructiva de la economía moderna y dominante es que una expansión monetaria y crediticia inducida por el banco central puede hacer que una economía crezca sin consecuencias adversas. Seamos claros desde el principio: esta política ha sido probada muchas veces por muchos bancos centrales y todos estos intentos han conducido
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.