So yesterday it finally happened:- the yuan was revalued , after years of pressure from particularly the U.S. government but also the EU and Japan. However the move was much smaller than expected, a mere 2.1%. This will hardly satisfy Senators Smoot Schumer and Hawley Graham ( as Larry Kudlow likes to call them ). Contrary to what some people seem
Today’s Paul Krugman column is quite interesting, but not because it presents good arguments, but because it contains so many fallacies. His entire column makes a big deal about a decision by Toyota to build a plant in Canada, which he claims proves the superiority of Canada’s somewhat more extensive welfare state compared to the United States.
I recently criticized The Economist for its very confused Keynesian analysis of monetary policy in Europe . Its analysis of China’s impact on the global economy in its latest issue is however a lot more impressive. Apart from a few minor details, its provides a interesting and correct analysis of the subject. Some of the more interesting
In the latest money supply report , the M3 measure of money supply surpassed the psychological barrier of $10 trillion. It is up 7.1% over the latest year (52 weeks) and at an annual rate of 11.2% over the latest 13 weeks. Meanwhile, in a completely unrelated story, the consumer price index posted its biggest monthly (+1.2%) gain since 1980 and
Prestopundit (aka Greg Ransom) had a funny word to describe, based on a article by Will Wilkinson , how several left-liberal pundits including Paul Krugman , Maureen Dowd and Harold Meyerson are describing President Bush: Murray Rothbard with a Texas accent . Krugman decried the alleged “ideological hostility to the very idea of using government”
Interesting article in The Economist on how inflationary pressures are increasing in America and elsewhere. Actually I would however rather describe it as monetary inflation increasingly taking the form of consumer price inflation, but let’s not be picky. As the article points out, the year to year increase in the consumer price index is expected
Hey you conservatives and libertarians, don’t you criticize President Bush, he is so smart bla, bla bla, he knows that if the government don’t spend $200 billion on New Orleans, some other American city will be nuked by terrorists bla, bla, bla $200 billion is nothing compared to the inflated value of American property bla, bla, bla Bush know how
Sweden has in recent decades like all highly welfare statist countries in Europe had problems with a weak economy--something which is particularly apparent in the labor market. Employment--both measured as the number of people employed or total hours worked--is now lower than it was 30 years ago even though population has increased some 10%. As a
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.