Hisashi Kitahara of the Daily Yomiuri says: “There are growing voices in Japan calling for the government to print money as a trump card to end deflation. The man who touched off the arguments was Prof. Joseph Stiglitz of Columbia University, the recipient of the 2001 Nobel Memorial Prize in Economic Science. The biggest problem Japan is saddled
Lew Rockwell on the Medicare reform that magically makes high prices for prescription drugs disappear. See How Socialism Happens Here : “Those who credit government programs with [expanded life expectancy] progress are partially correct: government has subsidized the prolongation of life at the expense of other social needs, simply by taxing the
Honda Tells U.S. Auto Makers to Try Harder (Reuters): U.S. auto makers will have to pull up their socks in the face of increasing inroads by Japanese competitors into the U.S. market, Honda Motor Co President Hiroyuki Yoshino said on Wednesday.”They should try harder,” Yoshino told reporters when asked about the Japanese auto makers’ steady
Top Euro Banker, Cleared of Scandal, Can Now Head ECB (BBC): [Jean Clauide] Trichet is a highly-respected central banker, and few doubt that he is qualified for the job of ECB president which includes setting interest rates for the 12 nation eurozone. ... “With Duisenberg gone, we’ll hear more talk about growth and less about inflation,” said
The new Monetary Trends published by the St. Louis Fed includes some revealing data on May’s money creation rates (percentage change at annual rates). See page 18. M1: +20.16% MZM: +14.52% M2: +17.49% M3: +12.96%
Jerry Muller’s Mind and the Market reviewed in Foreign Affairs .”The value of the book lies less in its contribution to the literature on any particular individual than in its gathering together in one place of a wealth of information on figures from Burke, Smith, and Voltaire to Schumpeter, Keynes, and Hayek. Muller’s masterful sketches of
Rate Cut Looking Like a Sure Thing (Washington Post): “Federal Reserve officials, concerned there is still no sign of the solid pickup in U.S. economic growth needed to foreclose the possibility of deflation, appear certain to cut their target for overnight interest rates next week.”
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.