“That’s quite a markup,” remarked my father as he paid for my six-year-old son’s treat after a soccer game. “Three dollars for a cup of ice.” It’s true; the price tag did seem steep at first. But as we analyzed the situation more carefully — my father is also a fan of free markets — we realized that there was no reason to be outraged at the
Although it has been temporarily drowned out by the discussion of Osama bin Laden, the debate over the federal-government debt ceiling continues. On Monday, Treasury Secretary Geithner sent a letter to Congress explaining that the statutory debt limit would be reached around May 16, and therefore Geithner would implement “extraordinary measures”
One of the more interesting recent stories of government absurdity is New York City mayor Michael Bloomberg’s decree that starting in 2013, the Nissan NV200 minivan will become the official taxi of the city. Over the next five years, all other models will be phased out. In addition to illustrating the corrupting effects of political power, the
A major piece of financial news last week was billionaire Raj Rajaratnam’s conviction on 14 counts of securities fraud and conspiracy. Rajaratnam, founder of the hedge fund Galleon Group, was worth an estimated $1.8 billion in 2009. His conviction has pleased those who want the feds to crack down on “insider trading” and show the fat cats on Wall
Politicians often try to empathize with struggling Americans by promising to cut government spending, “just like regular households in tough times.” This simile evokes different reactions depending on one’s economic views. Keynesians think it’s reckless, proponents of Modern Monetary Theory (MMT) think it’s absurd, and Rothbardians think it’s
I am pleased to announce that, starting July 20, I (and guest lecturer Peter Klein) will offer a Mises Academy class, Production and the Market Process . The course will focus on chapters 5–9 of Murray Rothbard’s masterpiece, Man, Economy, and State . The Scope of the Course The course runs for eight weeks, from July 20 through September 13. As
“If employees are being systematically underpaid in a firm, there is an automatic incentive for other companies to bid them away.” Earlier this week, the Supreme Court unanimously threw out a massive class-action sexual-discrimination lawsuit against Walmart. By overruling a lower court’s decision, the Supreme Court raised the barrier to future
My six-year-old’s interests have changed over the years, but one constant has been his fascination with vehicles. His most cherished vehicle is — in the words of one DVD — “everyone’s favorite friend, Thomas.” In the present article I want to discuss how amazingly “bourgeois” is the world of Thomas the Tank Engine . I imagine anti-industry
Earlier in the year, the BBC featured a series of articles commemorating the 20th anniversary of the fall of the state in Somalia. Although the articles expressed the typical revulsion at “anarchy,” the series was surprisingly balanced for such a mainstream outlet. Somalia is undeniably experiencing progress according to several criteria, despite
I recently spent five days in Lancaster, NH, home of the annual Porcupine Freedom Festival , or “PorcFest.” Although PorcFest may not be for everyone, libertarians — especially younger ones — who have never attended should definitely consider adding it to their summer vacation plans. Libertarians Just Wanna Have Fun I’m a workaholic, and I also
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.