Many economic historians are concerned about the possibility of large-scale offshoring of jobs from the United States and Europe to China, India, and other countries. They speak of another Industrial Revolution, the third since the 18th century, that will transform commerce and industry and require painful adjustments. The first revolution brought
Inflationomics, in popular terminology, indicates the sway of inflation thought in education and the affairs of government. It permeates political life and behavior, especially when economic policies are discussed and decided. It usually speaks well of an increase in the amount of money by a central bank and of deliberate expansion of bank credit
Good intentions, when guided by error and ignorance, may have undesirable consequences. There is no better example than minimum wage legislation. It means to raise the wages and improve the living conditions of poor workers but actually condemns many to chronic unemployment. It forcefully raises the costs of unskilled and inexperienced labor and
Medical expenses are rising faster than the costs of any other service. They are climbing at rates that exceed not only those of inflation and dollar depreciation but even the Federal government itself. In fact, they are consuming an ever larger share of personal and national incomes. Some 40 years ago American medical spending was estimated at 5
Few American economists have wielded as much influence on economic thought and policy as the late Milton Friedman. He was an articulate and ardent advocate of free markets and personal liberty. In 1962, his Capitalism and Freedom , which continues to be in print with nearly one million copies sold, pointed the way not only to economic but also
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.