“Good corporate citizenship” is a familiar song that has topped the charts for far too long. Every two decades, it comes back with a slight variation, finding wild popularity. The new version arrived in the mid-Eighties with suggestive lines about corporate behavior. The traditional corporate enterprise, it sings, should modify its goals not only
Milton Friedman, interviewed in Barron’s (August 24, 1998), was asked: Q: You were acquainted with the Austrian economist Friedrich Hayek and also are familiar with the work of Ludwig von Mises and his American disciple, Murray Rothbard. When you were talking about bad investments, you were alluding to Austrian business-cycle theory. There is a
The failure of a major hedge fund, in concert with the lingering shrinkage of Asian markets and the further slide of Russians into corruption and chaos, is ripe for the symbolic pickings. The anti-capitalist crowd, the people who never respected the market, has found their whipping boy. After spending the last two decades downtrodden by the
[Presented September 16, 1999, at the Mises Institute conference “Austrian Economics and the Financial Markets,” Toronto, Canada] My topic is How the SEC Subsidizes Stocks, and my subtitle could be: Why and How is the government in the securities industry? I mean “subsidy” in the broadest possible sense here and not direct cash support.
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.