Ryan Murphy of SMU has confirmed what F.A. Hayek wrote decades ago. It turns out Washington D.C. has more psychopaths per capita than anyplace else in the country. Insert my shock face here. The best chapter of the seminal “Road to Serfdom” is ‘Why the Worst get on Top,’ where Hayek wrote, Advancement within a totalitarian group or party depends
In Episode 4, Season 3 of “Last Chance U,” Coach Jason Brown told his players, “Ignorance is life threatening, man.” The Independence Juco coach said, “Eighty-nine percent of NFL and NBA players are bankrupt three years after retirement.” “I know you guys can’t comprehend half that shit,” the coach yells, referring to what is being taught in
Many American families are having trouble making ends meet. It’s no surprise given the value of the dollar has fallen 95% since the Federal Reserve was created. Not everyone is harmed by inflation, but those who, according to inflationdata.com are, the other big losers those on fixed incomes like the elderly and anyone whose income isn’t indexed
While most of America remains blissfully unaware of what’s going on at Putin’s soccer tournament, aka World Cup 2018, the New York Times printed Gabriel Zucman’s piece merging soccer’s stars and tax evasion. Superstars Ronaldo and Messi left Russia days ago but are the focus of Zucman’s ire for out maneuvering the taxman the same way each makes a
If recent stock market volatility is interrupting your sleep, Jim Bianco and CNBC’s Rick Santelli are saying, get used to it. The total assets of all central banks hit $16.4 trillion plus (an all-time high) and these banks now, collectively, own 33 percent of all the world’s sovereign bonds (someone/something had to buy ‘em). Santelli’s
I’ve written recently about the Fed tightening the True Money Supply and that a cleansing may be approaching. However, Kasey Buckles, Daniel Hungerman, and Steven Lugauer tell us in their National Bureau of Economic Research working paper that we shouldn’t be just focusing on monetary aggregates but conceptions. According to Buckles, et al,
While the world stresses about #metoo, Trump’s tweets, and other cultural nonsense, the latest Grant’s Interest Rate Observer is blunt about “the most consequential prices in capitalism — interest rates” Rates are “stuck under the bureaucratic thumb.” There is no mystery or debate, “It’s as plain as meatloaf that something is wrong with
Secretary of Commerce Wilbur Ross is recommending “a 24 percent tariff on all steel imports from all countries,” the NY Times reports. Ana Swanson writes that the tariffs, “are aimed at saving American steel and aluminum producers, who have struggled to compete with a flood of cheap metals from abroad, particularly from China.” Ironically, Diana
The Federal Reserve’s decades long program of inflation, as the cure to fix all things wrong with economy, has made retirement a luxury fewer people can afford. It’s not a story that’s well known. That the retail world is being taken over by Jeff Bezos’s Amazon is common knowledge. The two trends crash together in Jessica Bruder’s Nomadland , a
The Skyscraper Index shows a correlation between the construction of the world’s tallest buildings and economic busts. It was created by economist Andrew Lawrence in 1999. Mark Thornton of the Mises Institute expanded on Lawrence’s work combining Austrian Business Cycle Theory to the analysis. Dr. Thornton said in an interview, Record-setting
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.