officials in at least three ways. First of all, it provides more favorable economic news. Elected officials want to report and take credit for any positive 2001 from $5000 to $6090. Obviously, nominal GDP does not accurately represent the growth in this economy. If one industry is growing at a rate of 10 percent and the
When teaching economics I sometimes find it beneficial to use government budget data to apply the prices up. These calculations are simply an attempt to give us some idea of the growth in government and the attendant loss of our liberties over the last several to be productive, destroy our capital base, and have a negative effect on economicgrowth. From 1959 to 2005, adjusting the numbers using the implicit price
driving the value of money up and the price level down. Historically, when economicgrowth is accompanied by increases in the money supply, the inflationary effects 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.