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
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.
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.