or manager, rather than inquiring further. This is an example of greedy-bastard economics: rather than tracing their understanding of something they dislike back to on corporate investments, reducing the level of those investments, slowing the growth of worker productivity and the income it would generate. Similarly, taxes
socialism than the economy can sustain [and] there comes a point in time in growth when any parasite will destroy its host. That statement seems far truer today develops a stubborn vested interest to assure its continuance; it infects the economic, social, and political bloodstream. Read then turned to the thorny question
blinder-proofing citizens from being turned into unwitting prey is Henry Hazlitt’s Economics in One Lesson . The lesson, stated in the opening chapter (followed up with dramatically eroding investment, where the cumulative effect of depressing the growth of the capital stock now severely hampers our productive potential. As Hazlitt
the 1960s . This presumes without justification that the 1960’s minimum wage was economically justified. However, it was a Great Society aberration that coincided of compounded overstatements of inflation to dramatically understate real wage growth. It would decrease the number of families in poverty . Unfortunately, as labor with the highest state minimum wages have higher unemployment rates and lower economicgrowth rates? Even if some lose their jobs, most low-wage workers will gain
ten million words before his death in 1993, including perhaps the most popular economics book ever written— Economics in One Lesson (though looking back on that poverty by severing the connection between effort and reward can only lead to the growth of a totalitarian state, and destroy the economic progress that this country has so dearly bought. Liberty is so precious an
or intellectual values.” But that allegation is far from true. Freedom in making economic arrangements does not directly address people’s ultimate, higher ends. But of acquiring the resources to pursue them (e.g., political means), making the growth of moral values another important advantage of market systems. For instance,
that is not all it did. It also reiterated the case for individualism and its economic manifestation—free markets. Since convincing careful thinkers requires such who tends a plant and, in order to create the conditions most favorable to its growth, must know as much as possible about its structure and the way it functions.
reflect a presumption that they know what the proper Fed policy is for whatever economic problems they see. Unfortunately, not only might their vision of the future developments and policy changes (e.g., Brexit, slowing international growth and negative interest rates in some countries) must also be factored into
(currently a $42.1 trillion cumulative shortfall under intermediate population and economicgrowth assumptions), reiterating what has long been known, though frequently ignored.
liberty offers individuals and the society they comprise, including what only economic liberty offers us. Only Liberty Only liberty is consistent with a society battles for control. Only economic liberty unlocks the potential for economicgrowth to the greatest possible extent, as history attests. Asking what only liberty
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.