Today’s Wall Street Journal has a front-page story focusing on the question, “ Why does this recovery feel so much like a recession?” ($). It is a question that has perplexed some of the economics professions’ leading macro theorists who predicted months ago that a recovery would be well under way by now. Says the NBER’s Robert Hall: “It seemed
The CBO projects a budget deficit of over $400 billion for FY2003, reports this morning’s Washington Post . ”Daniels predicted the deficit for 2004 would look better, but Wall Street economists have said next year’s deficit will likely approach $500
The wavelike movements affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, [and it] is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom
That’s Chester Finn’s quote from this morning’s New York Times , reacting to the news that students in Shanghai vastly outscored their counterparts in international standardized educational testing. Finn seems to view this news as Sputnik-like, in that he sees it as an event that would galvanize support for broader federal control of education (if
Today’s Daily Article of Henry Hazlitt’s cogent (and still timely) analysis of the NRA reminded me of the following excerpt from John T. Flynn’s The Roosevelt Myth [San Francisco: Fox & Wilkes, 1998, pp. 40-41]. Flynn’s description of the Blue Eagle program, meant to intimidate private business to comply with NRA regulations, sounds eerily
An excerpt from an infamous blog apparently run by an educated professional Iraqi pseudo-named Salam Pax (another source of news around the official organs): American civil administration in Iraq is having a shortage of Bright ideas. I keep wondering what happened to the months of “preparation” for a “post-saddam” Iraq. What happened to all these
“This basic framework for tax law doesn’t make much sense,” writes Yale’s Robert Shiller in today’s New York Times . “Instead, future tax brackets and rates should be contingent on the extent of future inequality. Tax law should be based on a principle that might be called inequality insurance: the taxes would be collected in such a way as to
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.