In a sad testimony to the degeneration of its economic thinking - as well as to the shocking erosion of its editorial consistency — the Pink’Un, the Third Way interventionsist daily journal, otherwise known as the Financial Times , clearly thinks it is better to eschew economic flexibility in favour of the kind of ‘job security’ which only comes
Remarks by Gov. Mark W. Olson, May 5, 2004: Former Federal Reserve Chairman Paul Volcker once said, “No central bank can--or should, in my judgment--conduct policies for long that are out of keeping with basic, continuing objectives of the political
Coins reveal how Hannibal bankrupted the Romans ( British Archaeology ) Scientific analysis of Roman coins in the British Museum has provided new evidence that Hannibal, the audacious Carthaginian general, nearly bankrupted the Roman state during the Second Punic War in the late 3rd century BC. The study has shown that both the weight and the
Dinner speech by Professor Otmar Issing , Member of the ECB Executive Board, to be held on Monday, May 10, 2004: Let me conclude my remarks tonight by asking the question – somewhat in line with behavioural finance – what’s so terribly “wrong” with financial markets, that we have to mind so much about them. The answer is of course deeply rooted in
The Free Market 21, no. ( 2003) Three years into one of the most severe bear markets in history, the most striking feature of the typical economic discussion is the persistent state of denial about how perilous our situation truly is. Also notable is the unthinking promulgation of a species of economic fallacies which, though long since
The Dollar Gives Way to Euro Cash , says Pravda. “Russian people will probably favor their national currency in two or three years. The default of 1998 still has a big impression on the majority of Russians. A lot of them realize that it is oil, which makes for the strength of the ruble. The popularity of ruble tools, ruble bank deposits, first
A note in my inbox: “Mises and Hayek appeared yesterday in a documentary broadcast by Italy’s national, state-run, left-leanin TV channel (RAI 3). A fairly long interview with Mr. Hayek was also shown, together with the “Road To Serfdom” comic. This happened at 2:00 AM but it’s a start anyway. Maybe people with insomnia will get a
At a rough reckoning, Bloomberg calculates that Ms. Carleton S. Fiorina was paid around $15 million dollars (net of options) to run Hewlett Packard for 5½ years — and then approximately $21 million to leave the job to someone hopefully more capable than she! But, if there is one lesson which Corporatist America can teach us, today, it is that
Though, the economist itself is clearly not in favour of the author’s conclusions, this tells of a very Austrian-sounding critique of pseudo-mathematical business school methodologies: In a forthcoming article to be published posthumously in Academy of Management Learning & Education , Sumantra Ghoshal argues that many of the “worst excesses of
Michael Lewis, writing on Bloomberg , explores the question of why the movie industry finds capitalism so unheroic and uninteresting.
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.