the article provides insight into Obama’s thinking on economics and the economic policies he would be likely to pursue if he were elected President. The subject of fellow wage earners increase the demand for capital goods and the rate of business innovation and thus bring about improvements in the quantity and quality of the “rich.” But there is absolutely no reason to advocate such a downright fascistic policy. (As I’ve shown, just such a policy has been pursued in Sweden, the model
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on our activities and behavior. We use less of some things and more of others, and we innovate. In more concrete terms, we drive less and walk more, and we invest in a solar iPod charger as part of a year-end project this past semester. The list of innovative responses to high gas prices goes on and on. Some of these ideas will work
reason: “What’s missing in most analysis is the impact of inflationary monetary policy. Since 2001, and especially since September 2007 - when the Fed started directly controls. Unfortunately, because of globalization and financial-market innovation, money itself has become hard to measure and useless as a forecasting
driving public debate. But bridging the gap between private opinion and official policy will require nothing short of a miracle. One need look no further than the state of things, bad economic times will be a forerunner to bad and worse economic policy. The Democrats will give us more spending, regulating, war, and inflation. And are cooperating with all nations of the world, serving the consumer, and finding innovative and better ways to feed, clothe, house, heal, and entertain us. And what
Thanks to recent technological innovations, companies like 23andMe are now able to offer comprehensive genetic numerous restrictions on their freedom to advertise.) Who benefits from such a policy? First, due to the increased risk of purchasing a lemon, the value of used after millionaires on their deathbeds became the only people able to afford policies. While such drastic restrictions on the ability of insurers to discriminate
debt? More linen paper, stuff which can be printed up without limit. With this innovation, the fiscal restraint on the state came to an end. All the talk about fund both welfare and warfare. We wouldn’t dream of a world empire and debate policy the way we debate art, as merely a matter of preference. There would be
forecasting for years are finally unleashing their fury. In fact, the reckless policy of artificial credit expansion that central banks (led by the American Federal on a massive scale of new technologies and significant entrepreneurial innovations which, were it not for the “money and credit binge,” would have given agencies) cannot possibly succeed in finding the most advantageous monetary policy at every moment. This is exactly what became clear in the case of the failed
— will adapt much more readily through allowing what we call the I²E²S² process (Innovation, Economization and Substitution, leading to Investment guided by with Savings) to percolate through the free market than by means of anything policy wonks and political wastrels may dream up, respectively, in their ivory towers plan, backed up with a sizeable, mandatory subscription to a two-year insurance policy on the vehicle, payable by its would-be owners. Although some 340,000 trusting
[2] How did this happen? One answer, according to the Mackinac Center for Public Policy, is that Detroit’s city government is far larger, more regulation prone, and Monopolists retard quality and customer service, increase costs, and impede innovation, and America’s best-run municipalities now choose private competition over
and acquire the talent of enduring both maddening redundancy and contradictory policies. A life sentence of lengthy meetings begins at about age 16 for the future is to Clark Kent. Old-school “idea” men sank or swam on the profitability of the innovations they backed. Modern corporate stardom is a different game. The survivor
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.