The Free Market 26, no. 5 (May 2005) C onsiderable public discussion and debate now rages over Social Security and how to reform it. As the system currently stands, as early as 2018, it will be necessary to finance a growing portion of its outlays to retirees by means of outside sources of funds, since at that point the sums paid into the system
My wife and I briefly visited China two years ago, as part of a cruise that started in Hong Kong and ended in Beijing. We spent a day in Shanghai and 4 days in Beijing. We had been to Hong Kong twice before and had been tremendously impressed by it. But we didn’t expect very much in mainland China. In fact, when the ship stopped in Seoul, Korea, I
In his column in The New York Times, Paul Krugman attacks Walmart for its claim that it creates jobs. Krugman notes that Walmart’s competition against other retailers also destroys the jobs its competitors had offered before being put out of business by its competition. He attempts to show that Walmart has destroyed more jobs in this way than it
Considerable public discussion and debate now rages over Social Security and how to reform it. As the system currently stands, as early as 2018, it will be necessary to finance a growing portion of its outlays to retirees by means of outside sources of funds, since at that point the sums paid into the system in the form of payroll taxes will begin
President Bush’s prescription drug benefit deserves to be killed. Its estimated cost is now put at well over $700 billion for the next ten years, nearly double the original estimate given by the President when his program was enacted into law just fifteen months ago. Angry Congressmen and Senators, who believe they were deceived into enacting it
In a front page editorial (Sunday June 5), thinly disguised as its lead news story, The New York Times has unknowingly provided a case study in envy and ignorance. The “article” is titled “ Richest Are Leaving Even the Rich Far Behind,” subtitled “Tax Laws Help to Widen Gap at Very Top.” It breathlessly informs readers that “The people at the top
The New York Times has proved once again that it is a reliable font of economic ignorance. This time, it’s through an op-ed piece titled “ A More Perfect Union ,” by a lady named Ruth Milkman, whose credentials in economics are that she is a “sociologist” and “director of U.C.L.A.’s Institute of Industrial Relations and a visiting scholar at the
The environmentalist fear mongers are gearing up for a new propaganda blitz, based on an alleged connection between the two recent major hurricanes and alleged global warming. They apparently believe that modern education and cultural reconditioning have been at work long enough for most Americans by now to have adopted the mentality of primitive
The doctrine of “pure and perfect competition” is a central element both in contemporary economic theory and in the practice of the Anti-Trust Division of the Department of Justice. “Pure and perfect competition” is the standard by which contemporary economic theorists and Justice Department lawyers decide whether an industry is “competitive” or
Mi propósito hoy son dos cosas principales: (1) Demostrar por qué la Alemania nazi era un estado socialista y no capitalista. Y (2) demostrar por qué el socialismo, entendido como un sistema económico basado en la propiedad pública de los medios de producción, requiere inevitablemente una dictadura totalitaria. La identificación de la Alemania
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.