selling securities to pay for the gold instead of printing money) it slowed the growth of the money supply. Doubling the reserve requirements brought interest rates still available for businesses that wanted them. So, what caused the plunging economic indicators? As Joseph Salerno points out , money wages shot up 13.7 percent
Bomb,” a book published in 1968 that predicted dire consequences if population growth was not immediately curbed. However, the book’s predictions failed to in addressing societal challenges. But is deciding the human population’s size an economic issue? Do Hayek’s insights apply to this? Contrary to what many might
industries. Beyond their technical merits, open protocols embody fundamental economic principles that foster innovation, competition, decentralized open protocols drive continuous improvement, consumer satisfaction, and economicgrowth. Entrepreneurs are free to explore their visions, adapt swiftly to changing
published what is now considered to be one of the most important essays in all of economics, “The Use of Knowledge in Society.” In it, he detailed what is known as planned economy, where the state replaces prices and property to determine economic outcomes. Yet without private property, there are no prices to convey the early 2000s recession saw the United States experience both sluggish economicgrowth , a sign of a decrease in aggregate demand, and a productivity boom , an
is an inverse of velocity, is measured by the quantity of nominal pounds sterling economic actors hold over a period of time in order to acquire a higher purchasing it is saving and investment that will help fix the distortions, by allowing for growth and deflation. Despite the Keynesian “ paradox of thrift ,” increased saving
distinguishes Hayekian libertarianism, which stresses the immense capacity for economicgrowth that the free market makes possible and accepts the need for government
itself. The Austrian insight into spontaneous order transcends the realm of mere economic theory, representing a profound epistemological paradigm shift. It rejects guiding entrepreneurs and investors toward opportunities for innovation and growth. When prices rise, they indicate a demand for a particular good or service,
factual judgments about how the economy works (e.g., whether most gains from economicgrowth go to the super-rich), and she also has many nonphilosophical arguments in
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.