A Man, a Plan, a Flop

In Our Hands: A Plan to Replace the Welfare State. By Charles Murray. The AEI Press, 2006. Xv + 214 pgs.

Charles Murray, by his own account, should not have written In Our Hands. He identifies a genuine problem; but he himself shows that his plan to solve it is either useless or inferior to a better plan.

The Rationale of the Mises Institute

[Here is a short talk I delivered a few days ago]

To give a short talk on the work of the Mises Institute is like giving a short talk on the history of Europe or a two-minute introduction to the social sciences or a brief overview of the philosophy of mind. It is impossible to cover every point, so I would like to just sketch the rationale and overarching purpose.

Our raison d’etre consists of three main parts.

The Actual Nature of Offshoring and of Our Balance of Trade Deficits

Few issues are more frequently commented on than the shifting of American manufacturing to locations outsides the United States, in order to take advantage of lower foreign wage rates, particularly in Asia. This shifting is what is meant by “offshoring.” With equal or greater frequency lamentations are heard concerning the United States’ chronic excess of imports over exports, i.e., its so-called “unfavorable” balance of trade.

Here’s an example that will help to put both matters in proper perspective.