[ Originally published June 7, 2006. ] The “father of modern economics,” said economist Murray Rothbard, was a “gallicized Irish merchant, banker, and adventurer who wrote the first treatise on economics more than four decades before the publication of the Wealth of Nations .” (Rothbard 1995, p. 345) Richard Cantillon’s Essay on the Nature of
Donald Trump campaigned on the economic issues of international trade, immigration, and jobs. He condemned international trade, immigrants, and the economic policies of countries such China and Mexico. As such, he should be made an honorary member of the mid-19th century “Know Nothing” political party. This week he took aim at the trade deficit by
There is much hand-wringing in the financial media this week after Treasury Secretary ( and Lego Batman producer ) Steve Mnuchin helped push the G-20 to remove its long standing language to “reject protectionism” from its annual statement . While the Trump administration’s embrace of anti-trade policies is a very real concern for the global
The beltway Republicans are scrambling now that it seems the Obamacare replacement package put forward for Paul Ryan and endorsed by Donald Trump can’t get enough support to get through the House. The failure of the American Health Care Act should surprise no one, as it is a piece of legislation that managed to please no one. The Freedom Caucus,
[Published January 27, 1964 in Newsweek. Excerpted from Business Tides: The Newsweek Era of Henry Hazlitt ] President Johnson has declared an “all-out war on human poverty.” It is a laudable aim. It has, in fact, been the aim of rulers, statesmen, economists, reformers, religious leaders — of every man of goodwill — from time immemorial. It is
Citing U.S. Department of Energy data, the New York Times recently reported that the solar industry employs far more Americans than wind or coal: 374,000 in solar versus 100,000 in wind and 160,000 in coal mining and coal-fired power generation. Only the natural gas sector employs more people: 398,000 workers in gas production, electricity
During the campaign, candidate Trump constantly railed against Janet Yellen and her Federal Reserve. The Fed was keeping interest rates low because they were “more political than Hillary Clinton,” Trump repeated while stumping for votes. Unfortunately President Trump has a different opinion. Yellen is no longer “toast,” and he wants to keep
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.