Somehow, someway, it always comes back to the central bank. With economic anxiety growing, trouble in Latin America , frustration at the length of the recession, suspicions that matters are going to get worse before they are better, and, above all, terror that stock prices could fall ever further, Alan Greenspan is letting it be known that rate
With the mid-term elections barely over, the Federal Reserve, in a move that gives even politics a bad name, has announced yet another cut in its key interest rates. The Federal Funds Rate is down to 1.25 percent, while the discount rate now stands at 0.75 percent. No doubt, economists from all sides will applaud this “long overdue” move by
Dinero, crédito bancario y ciclos económicos. By Jesús Huerta de Soto (Madrid: Unión Editorial, 1998, 630 pages, plus bibliography and index [Spanish]) Some of the most significant contributions made by Austrian economists relate to the field of money and banking. In his first great treatise, the Theory of Money and Credit , Ludwig von Mises
While assorted financial journalists, market pundits, policy wonks, Fed governors and even mainstream macroeconomists have been thrown into a panic by the slight whiff of price deflation they detected in the last few months in the U.S. economy, they have almost completely ignored the wrenching confiscatory deflation that is now going on in
The historical consensus has long ascribed the authorship of the independent federal treasury to President Martin Van Buren, or implicitly to his advisers, although a few historians have maintained that the idea originated within the Jackson administration. Certainly Van Buren deserves credit, as Jackson does not, for proposing its adoption, which
La reciente bancarrota de Argentina y el creciente desorden financiero en sus países vecinos son simplemente los últimos capítulos en la larga historia de deuda externa y de default en América Latina. La primera ola de incapacidad de pagos internacionales ocurrió en los 1820. Después de que los países latinoamericanos recuperaron su acceso 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.