Just when you think that the bailout mania could not become any more absurd, a “conservative” mainstream economist enters the picture to up the ante of outright stupidity. Martin Feldstein of Harvard, who once served as the chairman of President Reagan’s Council of Economic Advisors, had declared he has discovered the real secret of the current
I don’t know what it is about the Nobel Prize that makes economists fall in love with John Maynard Keynes, but once again I see a Nobel winner trying to convince us that the Keynesian package is sound economics. This time it is Joe Stiglitz throwing idiocy at us in the name of economic authority. While most of his article is pretty bad, he manages
I recently heard a radio interview with a prominent economist who was defending Federal Reserve Chairman Ben Bernanke’s moves to shore up the markets on Wall Street. Bernanke, the economist said with emphasis, had spent years studying the “mistakes” of the Fed during the Great Depression and was not going to repeat the “errors” that the Fed
A recent poll taken by CNN found that US drivers fear the possibilities of shortages more than they fear higher prices: A CNN/Opinion Research poll released Tuesday shows that 55% of those surveyed are more worried about long lines at gas stations and rationing than about the high prices that drivers have paid in recent months. The poll shows 40%
In a recent column, Paul Krugman tries to explain the “Bush bust.” Instead of clear, cogent economic theory, we are fed a mass of contradictory ideas, a bit of political partisanship, and explanations that simply make no sense. When one attempts to apply economic theory in order to explain certain events, one is reminded of Carl Menger’s dictum:
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.