other government programs while reducing and eliminating taxes is precisely the policy that is needed to restore the founding principle of the United States, which of self-interest is the foundation of the saving and investment and continuous innovation and improvement of products and methods of production that serves to raise
result is rising real wages.) The rise in real wages, the result of the saving and innovation of businessmen and capitalists, and of wage earners who become businessmen wages. Moreover, the undermining of capital accumulation that results from the policy of inflation serves to reduce and, if great enough, reverse the rise in the
greatly accelerate the rate of scientific and technological progress and business innovation. The achievement of all other economies of scale will also serve to the flow of factors of production to absolute advantage, our entire trade policy will need to be revised. There is a measure of truth in what Dr. Roberts
development of new technologies. In his chapter titled “Accelerating Technological Innovation,” he writes that “Global public energy R&D funding should double, to and to promote the use of renewable energy. India has created an Integrated Energy Policy for the same period that includes measures to expand access to cleaner energy
of the teachings of the economists. And though he depicts himself as a daring innovator writing in defiance of an overwhelmingly hostile intellectual environment, Democratic victory at the polls means that the attempt will be made to implement policies based on the theories of Mr. Galbraith; and, therefore, his ideas bear In Galbraith’s words: “Tothe extent that problems of military defense, foreign policy, agricultural administration, public works, education, and social welfare are
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.