Many economists think the Federal Reserve can use Phillips Curve tradeoffs between inflation and unemployment to guide Fed macro stabilization policy. Inflationary Fed policies may act as a monetary stimulus, to regulate unemployment. Data from 1948 to 1985 indicates that the Phillips Curve doesn’t actually exist. Does the data since 1985 reveal
On February 5, 2024, Oklahoma Representative Cody Maynard introduced House Bill 3027 , which would eliminate all capital gains taxes on gold and silver and expand legal tender to include not only gold and silver coins issued by the US government, but other specie that an Oklahoma court rules to be within state authority to make or designate as
President Biden may have recently made history as the first president to discuss snack chips in the State of the Union message. He used snack chips to illustrate the phenomenon of shrinkflation. Shrinkflation occurs when businesses reduce the amount of goods sold in order to avoid raising prices. President Biden pointed out that businesses hope
Academic life today, and our culture generally, is beset by a “woke” madness. Marxist termites are attempting to destroy Western civilization. The problem isn’t confined to Critical Race Theory, the subject of an earlier column. It goes far beyond that. The rot is everywhere. Fortunately, those devoted to true academic freedom are resisting this
The clash between the Biden Administration and Texas spilled out into the open last week, when the US Supreme Court ruled that Federal authorities could remove razor wire that Texas Governor Greg Abbott had been installing along the border with Mexico to stop the millions of illegal immigrants from crossing over to the United States. This time
Some modern opponents of a right to secession or self-determination invent a variety of reasons why secession was acceptable for Americans in the 1770s, but not in the 1860s. For example, historian Brooks Simpson in this column splits many hairs attempting to explain (unconvincingly) that the Declaration of Independence had nothing to do with
Good News Paul Krugman has declared a “better-than-Goldilocks soft landing” due to (his favored) measures of price inflation reaching two percent and real GDP growing at 3.3 percent. Bad News Credit card delinquency has doubled since 2021. Regional bank stocks fell over 10% after Powell’s FOMC press conference. The civilian labor force has fallen
When Charles Adams published his book For Good and Evil , a world history of taxation, the most controversial chapter by far was the one on whether or not tariffs caused the American War between the States. That chapter generated so much discussion and debate that Adams’s publisher urged him to turn it into an entire book, which he did, in the
If the NFL is about anything it’s about economics. Commissioner Roger Goodell and the collective owners must be tickledgreen about the $331.5 million in equivalent brand value that Taylor Swift has meant for the Kansas City Chiefs and the NFL. After all, it’s all for one and one for all for the colossus Pete Rozelle built. Rozelle negotiated a
Many are questioning the Federal Reserve’s political independence lately. A reporter asked about it at the end of Chair Powell’s FOMC press conference , and it also came up in Powell’s 60 Minutes interview : PELLEY: Your decisions inevitably are going to have a bearing on this year’s election. And I wonder, to what degree does politics determine
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.