Bloomberg News notes increased nervousness among traders that the Fed will “fall behind the curve” after comments from Ben Bernanke that indicated the Fed might pause in its rate hike campaign soon. The market have reacted by raising the spread between regular 10 year securities and the TIPS to a record 2.68% (Still unrealistically low spread in
In a previous article , I described the “social function” of stock speculators. In the present piece, we’ll explore the role of healthy futures and forward markets in a modern economy. Of course, both parties to any voluntary exchange expect to benefit, at least ex ante — otherwise the exchange wouldn’t be voluntary. But beyond this truism, it is
Suppose that company HN has been used to selling cars for cash at $10,000 apiece, but that business has been a little slow lately. Faced with the imperative to re-energize the dealership, inspiration strikes some genius in the marketing department. Shortly afterward, he emerges smiling from a lunch with one of his buddies up in finance and makes
[This talk was given in New York, New York, March 21, 2006.] When Mr. Bush went to war, he put little thought into financing it, which signifies fiscal irresponsibility. Under the framers’ design, he is supposed to go to Congress to ask for the money, all the money, and if Congress doesn’t have it, the war can’t go on unless taxes are raised or
Nostalgia for a lost but better world is what one feels when following the growing state-pension scandal. The San Diego, California, case is the most famous, but the details are the same in every state: whistle blowers, broken promises, mismanagement, graft, and corruption, followed by toppled politicos, lawsuits, a clamor to raise cash, and
New wage data indicate what you might have suspected. Average wages are not keeping up with the cost of living. This has given rise to claims that we live in the first sustained period of economic growth that has failed to offer a similarly sustained increase in real wages. Indeed, wages have declined in real terms by 2 percent in the last three
Since 1990, we’ve heard about what a low rate of inflation we’ve experienced. In some ways, it might appear low compared with what we experienced in the late 1970s. The dollar of 1976 was worth only 63 cents by 1981, once the Nixon-Carter inflation had done its work. The cultural and economic consequences were devastating. A generation was
Prefacio por Murray N. Rothbard (1977) El orden natural de la sociedad Competencia en materia de seguridad ¿Es la seguridad una excepción? Las alternativas Monopolio y comunismo La monopolización y la colectivización de la industria de la seguridad Gobierno y sociedad El derecho divino de los reyes y las mayorías El régimen de terror El mercado
Prólogo Tras la creación de la Fundación para la Educación Económica (FEE) en 1946, Ludwig von Mises se convirtió en asesor a tiempo parcial y desempeñó esa labor hasta su muerte en 1973. Siempre que la FEE tenía un seminario en Irvington, si estaba en el pueblo conducía desde Nueva York, donde vivía con su esposa, Margit, para hablar a los
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.