The Free Market 20, no. 12 (December 2002) The Federal Reserve System may have run out of room to maneuver. Facing a looming recession, it resolutely lowered its discount rate and frantically expanded its credits. Eager to stimulate the sagging economy, it enabled and encouraged businessmen to invest more and consumers to go ever deeper into
The Free Market 24, no. 1 (January 2004) “Deep in Debt, Caught in a Net.” 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
The Free Market 24, no. 12 (December 2004) I must have been in my third or fourth semester of political science and law at Marburg University in 1947 when I first heard about Professor Ludwig von Mises. I did not hear about him in my lectures but was made aware of him in my conversations with fellow students. They highly recommended his book
The Free Market 19, no. 7 (July 2001) The work of Adam Smith was truly epoch-making in the development of economic thought. In his An Inquiry into the Nature and Causes of the Wealth of Nations , which appeared in 1776, he explained the law of supply and demand: “The market price of every particular commodity is regulated by the proportion
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.