is widely seen as the key to development. But this does not explain how a single innovative machine multiplies itself. An alternative tack: Menger’s analysis of impeding recovery of investment because of the current high level of uncertainty; policy uncertainty , economic uncertainty, but most important regime uncertainty (
recover to a strong level of business activity unless something happens to boost innovation. The great question is how best to get innovators humming again through with a greater understanding of ABCT and its greater acceptance by businessmen and policy makers, we could look forward to greater prosperity without the ups and downs
differ, sharply, is on the causes of the post-recession slump and which policies might cure it. Broadly speaking, is the slump a lack of “demand,” which of Larry Summers, Brad DeLong, Paul Krugman . He states, “this diagnosis and these policy predictions are fragile.” And “None [of the New Keynesian models] produces our “unintended disincentives of social programs”, all of which stifle growth and innovation, are better than the “the new [demand side] thinking which “is largely
(drafted in early November) I made an argument that a Rothbardian anti-recession policy of slashing government spending while cutting taxes, “particularly taxes that less hampered economy with a smaller more efficient government there will be less innovation and prosperity. Recently many economists have been arguing, based on
deflation. Highlights: Rather than assisting a post-recession recovery, these policies – plus other market-harming government interventions, regulations, and normal trend in a free, competitive market is a world of gently falling prices as innovative businessmen bring improved and less expensive goods to consumers. A truly
creation was the factor that, to borrow a phrase from Roger, “turbo charged” a policy distorted market eventually generating the boom-bust, the Great Recession, and summarizes nicely: Had the Fed provided no fuel for the boom, federal housing policy, though perverse, would not have been unsustainable. The mortgage market would occurred because a credit expansion took place during a time when technological innovations associated with the digital revolutions created a strong demand for
Daily published my written testimony before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, US House of and understanding was impressive and he commented on how the delivery was innovative and effective, especially relative to tradition delivery in higher ed. It
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.