It is always interesting to see to what lengths pro-Bush supply siders will go to in order to deny the existence of problems in the U.S. Economy. Just take Alan Reynolds’ latest townhall.com article . In it, he attacks those of us who believe in a housing bubble and more specifically Morgan Stanley economist Stephen Roach. First he attacks a straw
The Heritage Foundation has recently released a new Index of Economic Freedom . Yet the flaws of this index are so serious that the index cannot be taken seriously. First of all, they often use incorrect facts. They claim for example that Denmark has a 26,5% top income tax rate. The real number is 54%. But even setting aside they do not have their
Yesterday it was revealed that the US trade deficit rose sharply in November, to a record high $60.3 billion, an increase of $4.3 billion against the upwardly revised $56 billion in October and also far higher than the consensus estimate of $54 billion. And it was a sharp increase against the $40 billion deficit in November 2003. That caused the
A few days ago, the supposedly politically independent Swedish government agency Skolverket (the Agency for Education)published a report which showed that private schools are more efficent —their students perform better at lower costs— than public schools and moreover that the presence of private schools in one locality improves the efficency of
Today’s report on fourth quarter GDP came in slightly lower than expected at 3.1% annualized real growth versus average estimate of 3.5%. A sharp (10.3%) increase in business investments and a continued increase in private consumption and inventories contributed to the increase while government consumption and residential investments slowed and
The recent report on personal income and spending showed a full 3.7% increase in personal income and an even greater increase in disposable income , raising the savings rate to 3.4%. But this sharp increase was mostly due to the temporary factor of Microsofts extra dividend of over $30 billion (Excluding that the increase was only 0.5%, lower than
Posted today in the NYTimes : “China lent Russia $6 billion late last year to enable Rosneft, which is owned by the Russian government, to buy Yukos’s biggest oil-producing unit, Kremlin officials said
William Graham Sumner: Against Democracy, Plutocracy, and Imperialism, by H.A. Scott Trask . Sumner was a prolific and astute historian of the early American republic whose work is informed by both his classical liberalism and his understanding of economics. Although not an anarchist, Sumner argued that even the best governments posed a
As was noted by Roderick Long , Ayn Rand used to hold Mises to be the best economist and promote his work , as was reflected in her ideal curriculum of “Aristotle in philosophy, von Mises in economics, Montessori in education, Hugo in literature”. Today though, the orthodox randian movement represented by ARI has abandoned Mises, even though they
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.