while stressing the fact that most of them occurred in countries whose economic policies were the least coherent. His historical analysis is most refreshing and Even fiscal policies have been only partly effective in a context of an industrial policy that has prevented agents from innovating by themselves. DeRosa points out, quite rightly, that shareholders have
and 1950s. The 1920s were also a time of widespread dissemination of technological innovations. The automobile was just coming into mainstream use. In 1914, there were did. During this time and during the 1960s, there was also great confidence in Fed policy and the long-range planning abilities of business. Another factor cited as at any time.” In addition to this factor, there is the influence of monetary policy. The Fed, the GSEs, the banks, government guarantees, and other credit
Conservative leader—of “inclusiveness” as a solvent of our problems. His idea of policyinnovation is to demand that the party open its doors to women, gays, and minorities.
all kinds of zany behavior. Sure enough, when you look at the Federal Reserve policy of the late 1990s, you find dramatic inflation of the core measures of the the run-up and subsequent collapse of Internet stocks. Because of the loose money policies of the Fed, venture capitalists enjoyed a huge increase in funds available the old economy, with mergers and big players playing a decisive role in driving innovation and profits. Far from having discredited capitalism, our experience with
of the natural sciences—a fallacy that could only reinforce retrogressive statist policies of all kinds. In many ways, Chapter Three of Kirzner’s book is the key to of producers to people’s wants in free markets. The author then notes just how innovative Mises’s theory of money actually was. Mises’s demolition of the and interest rates, and the like, round out the chapter. All of the foregoing have policy implications. In this discussion, we find a thorough treatment of the
flourish and that the rule of law needs to be supplemented by proactive government policies. Michael Kelly, editor of The Atlantic Monthly magazine and a very fine offers this response: This is mostly myth. If we look at the great moments in innovation, the developments that changed everything, we almost always find that the
a great deal of appeal for working scientists, especially those of a creative or innovative turn of mind, because they tend to practice what Popper preached. Popper of a railroad or the production of cloth or furniture. . . . Problems of social policy are problems of social technology. . . .” Despite the precedent created by thought through the implications of his fleeting insight to grasp how competition, innovation, and increased productivity create wealth and employment, he could have
they stole the good old name of liberalism and began to call their own tenets and policies liberal. In this country the term “liberalism” is nowadays more often than not used as a synonym for communism. The semantic innovation which the Socialists and interventionists thus inaugurated left the they will in this sense follow them. If these two propositions be made out, the policy of laissez faire . . . follows with scientific rigour. Cairnes is disposed to
of the developing world, de-globalization, a world depression, and police-state policies at home. President Bush is under great Republican pressure to bomb other growth in America. The boom of the last years came in part from technological innovations and the worldwide market for American goods and services. All this may apparent... The plight of Iraqis.forced rulers to distance themselves from U.S policy... Pictures of rock-throwing Palestinian youths killed by sophisticated
campaign, events of the last year have weakened one of the longest-standing policies of the US government: the trade embargo with Cuba. Born in the cold war state like Cuba drives a wedge into the socialist system, which tries to stifle innovation and is based upon raw political connections. The Cuban system regularly
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.