Gerardo Leone, commercial director at Argentine cold meat supplier Paladini SA, knows he has to revise his price list that assumes an exchange rate of 1.4 pesos per dollar. He just doesn’t know when to do that. “It’s impossible to set our prices,” said Leone. “The country is such a mess.” Without a believable peso rate, some companies are either
The following extract neatly sums up why monetarists and Keynesians are both wrong in their prescriptions about the need to use easy money and Big Government to boost “effective” demand. From The National Federation of Independent Business April Survey: “The economy is splitting with the services sector improving and the goods sector suffering,”
How many times have you heard the unthinking comment that we need to keep consumption burning brightly because “consumption is two-thirds of GDP”? There it is, after all, in black and white. If you look up the GDP release, you see that, in 2001, nominal GDP was $10 trillion dollars and change, while personal consumption expenditures were a touch
Forget Greenspan’s timorous optimism about the economy—after all, ask yourself when, in the course of the whole dirty dozen of futile rate cuts, he last talked its prospects down ? No. Just like the tired old stock promoter he is, Bookie Al always thinks better days are ‘round the corner, so puh-leeze, People, let’s perform our own analysis
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.