Republican Richard M. Nixon closed the gold window Aug. 15, 1971, breaking the last monetary link with the precious metal. During the next three decades, prices as measured by the CPI more than quadrupled, or, put another way, the value of the U.S. dollar has fallen to 24 cents. Meanwhile, the dollar has lost more than two-thirds of its value
Volume 8, No. 1 (Spring 2005) Austrians have demonstrated that recessions—and depressions—are the inevitable result of central bank intervention in the economy. The book’s greatest weakness is its inference that all economists critical of the 1920’s credit structure were somehow real-bills ideologues. Kaza, Greg. “Review of A History of the
Volume 15, No.3 (Fall 2012) This volume brings together highly important and relevant essays from distinguished authors, all of which are firmly anchored in the tradition of the Austrian School of Economics. The authors not only explain theoretically the causes of the current European economic and political crisis, but also point out, on the basis
The Free Market 13, no. 10 (October 1995) Finally, thought some Mexicans, part of the $50 billion that Western taxpayers sunk into the bailout would get to native investors. In late August, Finance Minister Guillermo Ortiz waved $1.1 billion in the air for indebted individuals and companies. The result: the peso sunk like a rock, again. Is there
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.