2010) The recent improvement of the global economy, with particularly high economic- growth numbers for the United States, is just one more deception in a long series of
magical results: a lower inflation rate with generally rising prices, a higher growth rate although the economy may be weaker, and a higher productivity number, indices the statistician holds in his hands the key to a series of other prominent economic figures. In order to calculate productivity, real output, real input, and
index is one of the most unreliable, most deceiving, and most abused statistical economic numbers. This is even more the case as the price index provides the basis of other statistical indicators as it serves as a deflator and enters economicgrowth and productivity figures. These macroeconomic numbers suffer from the
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.