History matters, especially as the New York City today faces still another subway crisis. The New York subway system’s history illustrates the failures of state enterprise. The subways have been bad for so long that few know when the subways were “an engineering marvel.” That was when subway private management companies made money, about a century
New York City subways are in deep financial trouble and the quality of service is in a downward spiral. Yet even talking about privatization is verboten. Original Article: “ New York Politicians Have No Idea How to Fix the Subways “ This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael
(From the November 1998 issue of The Free Market ) Big media outlets are ignoring the quiet revolution that is taking place across America. Politicians don’t talk too much about it for obvious reasons. This revolution is building incredible momentum. It now threatens the legitimacy of every level of government, the viability of government
Those arguing that Wall Street and other major industries cannot survive without a strong regulatory structure because regulators keep markets fair must now answer a basic question: Who regulates the regulators? The query comes in the wake of a recent blatant conflict-of-interest at the Securities and Exchange Commission, the regulatory group
The hypocrisy of the federal government appears limitless. Now it’s suing the big tobacco companies for $25 billion. Mind you, they’re not going after the cigar companies, which, of course, don’t have “deep pockets.” Just cigarettes smokers and makers—America’s most embattled minority. How can the government sue these companies? It sanctioned the
At the height of the Vietnam War, a war most Americans either want to forget or not learn about in the first place, a search and destroy mission was captured on film. A young American lieutenant and his patrol took a Vietnamese village, then, noting the Vietcong had been using it for months, ordered it burned to the ground. He explained to CBS
Recently, one of my lords and masters on the Potomac sent me a letter. Social Security Commissioner Kenneth S. Apfel wrote to say that, “We are pleased to send this Social Security Statement to help you understand what Social Security means to you and your family.” I’m glad someone is “pleased.” Looking at the record of my payroll taxes over 30
In deciding on a tax cut, Americans must make a choice. Will we make the same mistake as Britain’s Labor government of 1945, which reluctantly cut taxes, targeting the cuts to ensure that none went to the rich? Or will we follow the route of the German Federal Republic of the late 1940s and 1950s, which repeatedly cut taxes across the board and
Disaster struck in Tennessee last week—a disaster, at least, from the viewpoint of career politicians of both parties and of members of the elite media, who seem to support every expansion of government. With the General Assembly poised to put another state income tax on the books, hundreds of angry taxpayers revolted, descending on the state
The official credo of government regulators ought to be: “The more we screw up, the more of us you’re going to pay for.” Who taught me this lesson in civics? Recently, I attended the Security Traders Association (STA) congressional conference in Washington. The buzz at the conference was about Enron and the failures of the United States Securities
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.