they are also struggling to understand the logic of the Bank of Canada’s (BOC) mission statement : “We work to preserve the value of money by keeping inflation low are trapped in an inflationary fiat money system. Within this system, the BOC’s mission statement is to preserve the value of money with low inflation, which is
No one was surprised last November when the Pentagon failed its sixth audit , serving up a sorry record of zero and six. The institutionalized political bribery, and a murky and random set of Pentagon missions. These “solutions” also do not address the underlying and rapidly growing
credit. Nor is the larger gamble looking so good either. Banks continue to fail at an alarming rate, the dollar is under assault, and Washington is looking at a
have turned increasingly toward large-scale industrial policies. So-called mission-oriented policies are launched as a response to many perceived problems, policy is in fact problematic. The list of grandiose moonshot projects that have failed is long. A few examples: the US war on homelessness and the home ownership and Richard Nixon’s “war on cancer.” We identify seven reasons why these missions generally do not work well in practice: Missions cannot solve “wicked”
be brought into work. The irony is that half of NASA does brilliant work: unmanned missions and has done true science. It would be harder to think of a more expensive were more than 100,000 to 1 for failure. Richard Feynman said “One of 25, 4% would fail catastrophically.” I worked with Jack Lousma, STS pilot, in 1985 and he told me that the post flight on the orbiter of his mission found that a small fleck of paint had gone half way through the wind screen.
cooperation. Moreover, every successful entrepreneur, whether pursuing a “social” mission or not, acts economically and generates profit. McCaffrey analyzes two types are somewhat more complicated. They integrate the pursuit of a “social” mission directly into the production process. An entrepreneur might for example hire which of course is unsustainable in the long run. The social enterprise would fail just like any other enterprise that incurs losses. It might also turn out that
to reject property rights and engage in socialist destruction. It is a direct failing of our schools, of our political parties, and of all Western institutions A monthly recurring gift is even better, and helps us sustain and plan for our mission. Hunter Lewis, a generous supporter of the Institute, offers to match all during our Fall Campaign, so your contribution will go that much further. Our mission is simple: keep lit the torch of civilized society that Ludwig von Mises has
in the neighborhood, where, according to Rockwell’s opinion, the state has totally failed. The former publishing house employee became known in the 1980s through his been probably smaller. The growing skepticism of his countrymen against foreign missions - as in the case of Syria - may also be at least partly attributable to
of distracting the country from the Democratic primaries. However, the article fails to mention an important question: why? What purpose is served by putting a base taxpayer in the country a share of stock in NASA, Inc. and see whether or not a mission to Mars is worthwhile or another giant waste of money.
pact.” It’s important to note that when state intelligence and security agencies fail spectacularly, their budgets and personnel increase. Nobody gets fired, nobody use events like terror attacks to demand more money, more power, and an expanded mission. This represents the very antithesis of how markets should operate, where good guys, spreading democracy and fighting extremism. Thus the nobility of our mission excuses the occasional collateral damage. In this sense the war on
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.