J. Pollock’s “ Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy? “ became the focal point for a wide-ranging discussion of monetary issues to the unwitting public through loss of purchasing power. Per Kupiec and Pollock: “Innovations“ in accounting policies adopted by the Federal Reserve Board in 2011 Reserve notes, dollar denominated cash balances and fixed-rate assets. The “innovation“ in accounting policies centers around the Fed’s newly minted “deferred
how the Fed’s fixation on promoting price inflation is a big problem: The Fed’s policies severely undermine the middle class by making goods and services more who promise to help the middle class support this insidious wage-reduction policy. Inflation has very little visibility, but slowly, like negative compound But deflation can be good. It results from greater efficiency, competition, and innovation — the stock-in-trade of American industry. Our standard of living is
at our Austrian Economics Research Conference, Hastings outlined how technological innovation is already making centralized “designed” systems obsolete, and how McMaken Mises Contra Marx by David Gordon 7 Steps Toward a More Sensible Foreign Policy by Patrick Barron Economic Wisdom From Harvard by Hunter Lewis How Central
mucking around with the market function interest rates ought to serve. Time, not “policy,” is key to understanding interest rates. As the author states in his the rate of interest to the rate of profit, Marxists argued that capitalist innovation in money leads to an even greater concentration of (monetary) capital in
The outrageous talk of dividing Microsoft into three parts would have to end, so innovation and investment in the high-tech sector could proceed apace. But given the now also fails to treat the fundamental source of the problem, which is a monetary policy that has already been too loose. The last time that the money supply was
prices doubled in consequence. Rothbard’s Wall Street, Banks, and American Foreign Policy covers this episode much further, explaining how “World War I came as a could “contain the forces of inflation” by maintaining more “prudent” monetary policies. In a similar vein, if anyone should wonder about all those trillions flying in April 1991 to 5,132 in March 2000. Most importantly, the New Economy, with its innovative inventory and productivity management, had seemingly eliminated the
leads to higher costs and lower quality. It reduces economic growth, jobs, wages, innovation, and productivity. Attempts to control economic growth through government rates. The Bank warns: “It is unrealistic and dangerous to expect that monetary policy can cure all the global economy’s ills.” Obamacare could allow bureaucracies
useless in providing knowledge about the future consequences of current events and policies, because they take no account of hidden forces that may suddenly begin to been radically de-emphasizing the role of the money supply in guiding the Fed’s policy decisions almost from the moment he assumed the position of chairman in capital goods, including the new and different capital goods needed to implement innovative and more productive technological processes. Eventually, after these
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.