various “visionary” plans to make the American economy more progressive, more innovative, and more forward-looking by subsidizing politically-motivated projects like “green” technology. These hands-on policies will be ineffective. Recent research suggests that a much more effective way real-world examples, they show how patents actually reduce, rather than encourage, innovation. Innovators like steam engine pioneer James Watt, devoted enormous amounts
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on our activities and behavior. We use less of some things and more of others, and we innovate. In more concrete terms, we drive less and walk more, and we invest in a solar iPod charger as part of a year-end project this past semester. The list of innovative responses to high gas prices goes on and on. Some of these ideas will work
we are poorer, we have fewer resources to invest in education, health care, and innovation. Also, higher tire prices means that some people will drive on worn-out real and very important. By embracing protectionism, President Obama has adopted a policy that works against his supposed concern for Americans’ well-being by reducing
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on our activities and behavior. We use less of some things and more of others, and we innovate. In more concrete terms, we drive less and walk more, and we invest in a solar iPod charger as part of a year-end project this past semester. The list of innovative responses to high gas prices goes on and on. Some of these ideas will work
moral end in itself while economics is the analysis of human action. Environmental policy is often made on the basis of fundamentally flawed economic analysis. For established that the trees are not to be violated for their own sake), then the policy constitutes a forced transfer from the sick to the healthy and from today’s Prices and the prospects of profit and loss provide valuable information to innovators and entrepreneurs, but forsaking the price system turns economic decisions
and prices are allowed to fall—and this is to say nothing of radical new product innovations that the market produces on a daily basis. To the casual observer, the Myths & Morals of US Economic History.” It approaches most of today’s major policy issues—trade, immigration, etc—and shows that the terrain has not changed.
important part of being an ethical person because the unintended consequences of policies that fly in the face of basic economic reasoning have been tragic. The cruel being motivated by self-congratulation. Sincere good wishes will not prevent a policy‘s consequences (both desirable and undesirable). We’re all sincere,
US grocery market is that the United States “is a place that rewards innovative retailers.” [2] This is certainly the case in competitive markets; however, the state will often make sure that, for innovative entrepreneurs, no good deed goes unpunished. Even if we accept the FTC’s how “systematically biased” errors by voters lead to inappropriate government policies, we have little reason to believe that granting regulatory discretion is
but it oppresses the poor. 2. Competition in Education. Competition encourages innovation and leads to better educational outcomes . Affluent suburban schools and Jerry Hausman and Ephraim Leibtag have argued that the benefits of Wal-Mart’s policy of “Every Day Low Prices” have accrued disproportionately to poor households .
Labor Center activities, to evaluate proposals for course offerings and teaching innovations developed by Labor Center instructors, and to suggest and discuss defective races and classes in a country’s labor market. His work also has clear policy implications: specifically, programs of systematic removal from the superior
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.