Frederic Bastiat made a clear distnction between the good economist and the bad economist. For him, the good economist looks beyond what is immediately apparent and instead looks much further into the future. In this world, however, we have many bad economists, and as Bastiat writes in “ That Which Is Seen, and That Which Is Not Seen ,” “It almost
The COVID-19 pandemic has torn the veil off what we can now can call a “fiat market. It has stripped away all pretense of a true market. Governments and central banks now create both supply and demand. Bailouts and subsidies are handed down so that zombie corporations can produce on the one hand, while welfare, universal basic income, and other
La pandemia de COVID-19 ha rasgado el velo de lo que ahora podemos llamar un mercado «fiduciario». Se ha despojado de toda pretensión de un verdadero mercado. Los gobiernos y los bancos centrales ahora crean tanto la oferta como la demanda. Los rescates y los subsidios se entregan para que las corporaciones zombis puedan producir por un lado,
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.