Economists observing the American labor market are saddened especially by two sets of Federal policies which subject highly productive American labor to competitive disadvantage. One springs from monetary policy that generates huge trade deficits, that is, that causes imports to exceed exports by half a billion dollars a year. With interest rates
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
In Iraq, much public support for the invasion was lost when American television vividly depicted life in Baghdad after its fall. American soldiers gleefully watched widespread acts of looting, vandalism, and sabotage of public and private property. They watched when the national museum of Iraq, which housed some of the finest treasures of the
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
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
Volume 22, Number 1 (Spring 2002) Hans F. Sennholz in interviewed about Austrian Theory, Government intervention, and how Ludwig von Mises affected his life.
The essay Bureaucracy was written and first published in 1944. Its main objective is an investigation of the contrast between bureaucratic management and business management. As such it is an invaluable contribution to the great historical debate between individualism and collectivism. Professor Mises does not condemn or blame bureaucracy. He
Mises’s Omnipotent Government: The Rise of the Total State and Total War was first published in 1944 when 57 nations were locked in a total war that slew more than 15 million fighting men and countless women and children. It offers an ideological explanation of the international conflicts that caused both World Wars and continue to breed wars the
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.