You hear it from them all the time; teachers just want a fair wage. Oh, well who doesn’t? This line of thought begs two questions: How are wage rates established in a free market? And, are market wage rates fair? How are wage rates established in a free market? The insights from the Austrian School of Economics show that workers earn their
Living near the home of a major state university, national collegiate rankings are a real source of pride. There are the typical sports rankings that make the headlines; those for football and basketball in particular. But lately, The Columbus Dispatch has reported and editorialized on a new ranking; research and development expenditures at U.S.
It appears that the Appalachians are about to move again. Earthquakes? Shifts in tectonic plates? Not this time. Instead, the movement will be the result of an even more damaging force: congressional legislation. As a young buck growing up in Pittsburgh, I enjoyed riding my bike through the hills and valleys of the Appalachian Plateau of
The NY Times is reporting that billionaires Eli Broad and Bill Gates are “ joining forces for a $60 million foray into politics in an effort to vault education high onto the agenda of the 2008 presidential race. †What appears to be an extension of their philanthropic activities is simply seed money for the next political solution to failing
Ludwig von Mises warned of the unintended consequences that result from government interventions . In line with his warnings is the misallocation resulting from malinvestment by government in activities that are not the best use of scarce resources. These malinvestments create capital structures unsupported by real wants and desires. Bust comes
Today, NPR (All Things Considered) reported on the recent passage of the College Cost Reduction and Access Act by Congress. Oh, if life were so easy. Another few hundred dollars in per-student Pell Grants, lower interest rates, and capped loan payments will transfer more wealth, but the bill is not — as advertised — the “largest single investment
Several months ago I detailed the corrupt foundations underlying the chaebol’s in Korea, it seems that Samsung (the grand daddy of them all) is being accused of: “mastermind[ing] a campaign to raise slush funds to pay prosecutors, judges and lawmakers and influence a high-profile court case.” And even if they are found innocent of these crimes,
Peter Klein recently observed that the majority of popular tourist attractions in Paris were financed by coerced philanthropy (i.e., taxation). While there are exceptions to this rule, the same hold true for most of the state edifying temples in the DC/Kremlin areas as well. In addition, Peter linked to an interesting story from of all places,
In his book, For Good and Evil: The Impact of Taxes on the Course of History , Charles Adams makes it quite clear that the taxpayers are the real servants, while the so-called public servants — the political class — are simply the masters setting the slave wage. Of course, the primaries, debates, etc., bring this truism to life, with every
Income tax revolt is slowing making its way to the ballot in Massachusetts, and it’s picking up a few enemies along the way. According to a letter in the Boston Globe : “So when Libertarian leader Carla Howell launched a new effort to junk the income tax earlier this year, the powers that be made it clear that this time they would do everything
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.