The Free Market 26, no. 2 (February 2008) Years of spending, inflating, taxing, and redistributing has left the US economy teetering on a recession that our best and brightest—meaning the ones who created this mess—claim requires a multibillion-dollar economic-relief package to quell fears, promote confidence, and spur recovery. And, one might
The Free Market 20, no. 12 (December 2002) There are many characteristics that Alan Greenspan shares with Benjamin Strong, the New York Fed president during the 1920s. Both decided US monetary policies during eras of massive, unsustainable growth in the business cycle. Both played major roles in creating asset bubbles that eventually resulted in
The spirit of speculation and adventure pervaded the entire community ... and crowds of individuals of every description—the credulous and the suspicious—the crafty and the bold—the raw and the inexperienced—the intelligent and the ignorant—politicians, lawyers, physicians, and divines, hastened to venture some portion of their property in schemes
Real Estate. Some interesting anecdotes in this article . In Naples, Florida, some houses have been bought twice in a single day. “It just seems like everyone is doing it,” Laurie Romano, a 26-year-old self-described real-estate investor, said with a giggle as she explained why she was attending an open house this month for the Nexus, a 56-unit
Regarding Nicolás Cachanosky’s insightful article this morning on Argentina’s coming default, I would just add that it can’t come soon enough. Although one can only imagine what kinds of behind-the-scenes pressure Argentine President Cristina Kirchner and central bank head Juan Carlos Fábrega are under right now to pay these bonds, Argentina
The National Labor Relations Board is the Supreme Soviet of organized labor. Created by FDR to impose unions on the American workforce, its abolishment is long overdue. Instead, it is currently attempting to impose union membership on the very sector of the labor force that has appeal primarily because of its freedom from union influence. This
The economy is officially in the tank, and economists are standing in line to tell policymakers which levers to pull to bring it back to healthy form. Giving advice to political leaders--advice they want to hear--seems to be the way to fame in my profession, with the primary concern that the New York Times prints your name correctly. I too have
Assume that a friend makes available to you a generous line of credit to your firm at very agreeable terms: low interest rates, loose repayment requirements, and (nod-nod, wink-wink) the implicit agreement that if you can’t make your payments in the future there will be more dough forthcoming. Assume that all of your neighbors have similar
The Wall Street Journal recently ran a front page story focusing on the question, “Why does this recovery feel more like a recession?” Likewise, the Chicago Tribune asked in an editorial, “Why has it been so difficult to get this economy out of first gear? More to the point, when will this fitful, uneven growth begin to feel like a recovery?”
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.