Public Radio interview with John Cassidy, author of the new book How Markets Fail . Fortunately, we got to the front of the line before Cassidy let out the concerned, there are two central issues. One, it should go back to its original mission of trying to prevent financial crashes. So if it sees a lot of speculation
a man on the Moon! After observing the technical accomplishments of the Apollo 11 mission as well as its empowering symbolic meaning of having beaten the Soviets in of 24,400 kg with an estimated price tag of $1.5 billion per flight for 135 missions — with 2 tragic crashes (14 killed) — as well as 2 missions paid for by
must become the autumn of profits, or else it’s all over. Not so in government. Failing projects can go on forever. There is no profit and loss test. There is no another sector of government management, central planning, and bureaucratic-driven missions that are no more or less successful than anything else a government does. Anyone with a sense of history knows the answer to that. The British tried and failed. The Soviets tried and failed. The only way a person could believe that the
in which taxpayers are tyrannized in thousands of ways to pay for thousands of failed programs. Here’s compassion, as understood by the former Senate Majority moral obligations and should call forth greater personal political responsibility”—failing to mention that taxes keep him employed and very powerful. Catholic
Glass and Professor Willis assigned to the Federal Reserve System the humble mission of passively liquefying the good collateral of commercial banks when they been parched for liquidity but was actually awash in it. The only mission the Fed failed to perform is one that Professor Friedman assigned to it thirty years after
treated as regular enterprises that had profits and losses, and could succeed and fail. What guaranteed their stability, even with the evil of fractional reserves, was would be treated like a crazy person. But how crazy is it? The central bank has failed in its overt mission for nearly 100 years. It has destroyed our money, funded
or its professionals had been replaced by political hacks willing to ignore the mission of the agency.” Brodwin does not support these assertions with evidence. But officials of the federal [Obama administration] Environmental Protection Agency failed as well.” Brodwin’s conclusion is that “[i]f we don’t address the underlying
follow. (Now substitute homes for combines). To the politically connected, though, mission accomplished. More investment occurred: a combine in the hands of a stood. “Fortunately, survival through rent seeking and corporatism eventually fails.” Security Analysis provides a sturdy investing foundation, but it is unable to life-forwarding, market-driven entrepreneurial allocation (much of which will also fail but much less destructively so). The problem, in short, is confusing case
income of 16% of those with mortgages, up from just 2% five years earlier. What we failed to mention was that roughly half of all mortgages fell within long-held likely tell pension funds holding the very same toxic paper as his “too big to fail“ banking cronies? Take a number. Stripped of its lofty promises, the Emergency
to as the middle-of-the-road policy. This ideology succeeded where communism failed, successfully toppling governments around the world that never had true new generations of courageous individuals prepared to resist. This is the mission of the Mises Institute, to inform and educate individuals around the world 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.