The ILO reports that unemployment worldwide hit a record high last year of 185.9 million people worldwide, or 6.2 percent of the global labor force. The political class claims to have the answer, but unemployment is not the result of any one cause. It makes its appearance in a great variety of circumstances, some in personal factors, some in
Good intentions, when guided by error and ignorance, may have undesirable consequences. There is no better example than minimum wage legislation. It means to raise the wages and improve the living conditions of poor workers but actually condemns many to chronic unemployment. It forcefully raises the costs of unskilled and inexperienced labor and
In Iraq, much public support for the invasion was lost when American television vividly depicted life in Baghdad after its fall. American soldiers gleefully watched widespread acts of looting, vandalism, and sabotage of public and private property. They watched when the national museum of Iraq, which housed some of the finest treasures of the
El ILO informa de que el desempleo en todo el mundo batió un récord el año pasado de 185,9 millones de personas en todo el mundo, o un 6,2% de toda la fuerza laboral global. La clase política afirma tener una respuesta, pero el desempleo no es el resultado de ninguna causa única. Hace su aparición en una gran variedad de circunstancias, a veces en
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.