at a rate of 8% annually, perhaps higher The Communist party will not “allow” growth to slow because it would create social unrest China’s development is based on industry is still state-owned. How can central planners overcome Mises’ problem of economic calculation? It is likely that a large amount of the savings is simply
Here’s the abstract: “This essay surveys some of the key themes in Southern economic history and traces the development of the region through the colonial and in light of recent hypotheses about technological change, policy, and productivity growth.” A lot of topics that deserve very detailed analysis are treated only
never-occupied buildings. This is an example of why I am a skeptic of the China growth story. A lot of the so-called GDP growth is spending by central planners that has no real economic value. The reporter says that “a country can raise its GDP by spending
We’ve got very low mortgage rates. We’ve got demographics supporting housing growth. We’ve got restricted supply in some places. So it’s certainly understandable higher than otherwise. I’ll grant him that much. But what about population growth, economicgrowth and higher incomes? Is it so obvious that these factors make housing
it deals with both religion and politics, a potent mix. But it is a fact that economic science began within the milieu of Catholicism in the 15th and 16th century. functioning of the market. Smith added to this an important theory of economicgrowth. He further noted that both Menger and Mises used Smith’s work in their own
“how things usually are,” or “under normal circumstances” when referring to the economic conditions present over the past several years. I hear the talking heads point consider the following scenario. If XYZ company’s stock shows 80% earnings growth for two years in a row while its closest competitors only show 15% earnings
books of our time. Higgs demonstrates, in meticulous detail, how the growth of the American state in the twentieth century has followed a regular pattern: (and the much needed credit-market correction) to stoke public fear of a global economic collapse, all to bully opponents into supporting a major expansion of the
that on the very day they discovered that motor vehicle output added 1.7% to economicgrowth in the third quarter, which is the “largest contribution to quarterly growth
reduce the regulatory burdens on innovators. According to conventional wisdom in economics, temporary monopoly rights–patents–are necessary to give people incentives to defending monopoly rights rather than to creating new value. Innovation and growth proceeded apace once the patents expired. In Boldrin and Levine’s opinion, this delayed the onset of modern economicgrowth. As these authors argue, intellectual monopoly is an unnecessary
rescue plans,’ warns Jesús Huerta de Soto (Madrid 1956). Professor of Economics and one of the foremost current representatives of the Austrian School, economy, which swings from bubble to crisis. To be sustainable, the economic recovery must be cold, with no rushed growth. For the first time in history, Spain cannot react to a recession by deceiving
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.