I recently discussed David Frum’s lament that conservative Republicans are defecting from “respectable” economists and joining the ranks of the Austrians. One of the reasons for this is that many conservative pundits — Frum included — are Keynesians, plain and simple. Many rank-and-file conservatives are recognizing that it makes no sense to
Well it’s about time. The headline on Monday’s CNBC article announces: “Investors Starting to Believe That Inflation Threat is Real.” For some time, I have been a proud member of the fuddy duddies who have been predicting the return of serious stagflation . Thus far, our prognostications have clearly been half -right — the “real economy” is indeed
Inflation hawks were disappointed by the very early retirement of Kevin Warsh from the Federal Reserve’s Board of Governors. In contrast, those who think Ben Bernanke needs more doves on the board in order to push through his inflationist medicine celebrated Warsh’s unexpected exit. In this context, Charles Plosser — president of the Philadelphia
Back in early January, the Federal Reserve made an obscure announcement in its weekly report. It appeared to be an inconsequential accounting change in the treatment of earnings , and was sold as a step toward greater transparency. The change was buried in such jargon that it took weeks for the financial bloggers to fully digest what had happened
The news abounds with arguments and even riots over so-called austerity measures. Whether in the Middle East, Europe, or even certain US states, the public is realizing just how deep a hole various governments have dug for themselves. In this article I’ll outline Uncle Sam’s position and then explain why it’s such a problem. A Shocking Chart I
Whether giving public lectures or teaching at the Mises Academy , I’m often asked whether Bernanke will be able to “pull this off.” Specifically, can the Fed gracefully exit from the huge hole it has dug for itself? Unfortunately my answer is no. In the present article I’ll go over three possible exit options, and explain the flaws in each. The
Everyone knows that the unemployment situation is very bad, but the official figures (not surprisingly) understate the problem. In this article I’ll outline the severity of the stalled labor market, and explain some of the major causes. The Employment Outlook According to the Bureau of Labor Statistics (BLS), the official civilian unemployment
As YouTube and other digital media move beyond computer-savvy young people into the ranks of even stodgy businessmen, these subversive outlets become serious problems for the ruling elite. This trend is epitomized by the radical change in the Federal Reserve’s image. In just a few short years, the Fed has transformed in public opinion from a
Five months into the second round of quantitative easing — “ QE2 “ — it is useful to take stock of what it has, and has not, accomplished. In short, the monetary base is way, way up, price inflation is up, long-term interest rates are up, and bank lending is down . QE2 has thus begun to deliver on all the dangers of which the critics warned, but
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.