[This talk was given in New York, New York, March 21, 2006.] When Mr. Bush went to war, he put little thought into financing it, which signifies fiscal irresponsibility. Under the framers’ design, he is supposed to go to Congress to ask for the money, all the money, and if Congress doesn’t have it, the war can’t go on unless taxes are raised or
Nostalgia for a lost but better world is what one feels when following the growing state-pension scandal. The San Diego, California, case is the most famous, but the details are the same in every state: whistle blowers, broken promises, mismanagement, graft, and corruption, followed by toppled politicos, lawsuits, a clamor to raise cash, and
New wage data indicate what you might have suspected. Average wages are not keeping up with the cost of living. This has given rise to claims that we live in the first sustained period of economic growth that has failed to offer a similarly sustained increase in real wages. Indeed, wages have declined in real terms by 2 percent in the last three
Since 1990, we’ve heard about what a low rate of inflation we’ve experienced. In some ways, it might appear low compared with what we experienced in the late 1970s. The dollar of 1976 was worth only 63 cents by 1981, once the Nixon-Carter inflation had done its work. The cultural and economic consequences were devastating. A generation was
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.