This old English proverb concisely describes the financial condition of many Americans. Household debt is rising at an 8.8 percent annual rate, home mortgage debt at 14.2 percent. Total debt in the United States doubled from 1998 to 2002, from $16 trillion to $32 trillion and may double again in the next five years. The Federal government,
Economists observing the American labor market are saddened especially by two sets of Federal policies which subject highly productive American labor to competitive disadvantage. One springs from monetary policy that generates huge trade deficits, that is, that causes imports to exceed exports by half a billion dollars a year. With interest rates
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
In a recent survey of the ideological persuasion of 1,643 full-time professors at 183 colleges and universities, three eminent scholars, Professors Robert Lichter of George Mason University and Stanley Rothman and Neil Nevitte of the University of Toronto, found that nearly three-quarters of college faculty call themselves liberal. In the study of
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.