On January 1, some 300 million Europeans entered a new financial era. They surrendered their own currencies in coal-and-steel trading arrangement and expanded to a Common Market and the present European Community of fifteen countries. At a meeting in Maastricht, The Netherlands, in December 1991, the members decided to form a currency union with certain participation criteria--namely, national budget deficits of no
regulations throughout the 1990s. Ever since the disintegration of the Soviet Union, numerous countries have made, and continue to make, regulatory changes that duties, price supports, export subsidies, and direct payments to farmers. The EuropeanUnion (EU) devotes nearly one-half of its total budget to farm support. It
astute politicians who molded a new political party — the Christian Democratic Union. Under the brilliant leadership of Dr. Konrad Adenauer they created a political It is customary to compare the economic prosperity of Germany with that of her European neighbors. Our yardstick of comparison is the socialist postwar economy of
about the possibility of large-scale offshoring of jobs from the United States and Europe to China, India, and other countries. They speak of another Industrial the expansion of the service industry. It enabled and encouraged industrial labor unions to raise the cost of labor above its productivity, which has given rise to an paying wages. Surely, the American labor market is more flexible and vibrant than European markets, which is rendering it more adaptable to the changes to come. On the
same time, the American dollar fell more than ten percent toward the euro. The European Central Bank may not have reduced its dollar holdings, but many European unemployment rises for any reason. They are loudest in industries with militant union labor suffering high rates of unemployment. Unfortunately, an American slide
The American banking crisis was aggravated by a series of events involving Europe. When the world economy began to disintegrate and economic nationalism ran rampant, European debtor countries were cast in precarious payment situations. Austria and Labor Relations Board, which became prosecutor, judge, and jury, all in one. Labor-union sympathizers on the board further perverted the law that already afforded legal
quoted at 4.2 trillion marks, the American penny at 42 billion marks. How could a European nation that prided itself on its high levels of education and scholarly introduced, but failed to become law. The eight-hour day was enacted, and labor unions were given many legal immunities and privileges. In fact, a system of labor be blamed for the present inflation. But in many countries of Central and Western Europe the responsibility for monetary depreciation is squarely laid on American
time the work was already in print under the awkward and unfortunate title How Can Europe Survive? The title of my thesis was An Inquiry into the Problems of International Cooperation and European Unification. When I submitted it to D. Van Nostrand for publication I called female seminarian who, in time, was to become my wife. Taking full credit for our union she willingly offered to become our son’s godmother. She carried the baby
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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.