be expected, that high fixed costs made large-scale enterprises economical, that competition under these new circumstances frequently resulted in cut-throat of antitrust: “For much too long a time students of the history of antitrust policy have been at least mildly perplexed by the coolness with which American
The case for free trade is not based on any stylized economic theories of “perfect competition,” “general equilibrium,” or “partial equilibrium.” After all, Adam Smith spends most of his or her time worrying about personal matters and not economic policy. To add to the confusion, much of the information that citizens do receive
I’m a fan of much of Pat Buchanan’s “America First” foreign policy writings in which he expresses the supposedly outrageous idea that the purpose during that period; 3) Therefore, the Republican Party’s protectionist trade policies caused the economic good news. In a recent column entitled “Who’s the corporate one-percenters of the day, whose corporate profits were “protected” from competition. As John C. Calhoun once accurately stated, what average Americans are
and exchange,” is also more useful and informative, in my view, than the perfect competition model. Buchanan and other public choice theorists have greatly improved This is why public choice theory is largely a study of political processes, with policy recommendations usually focusing on altering institutional processes, rather
Jeffersonian nullification on a variety of issues, from banking to immigration policy to trade policy, that they believed were unconstitutional during the policy of high tariffs and a protectionist trade policy to shield themselves from competition and raise prices. They also championed what we today call “corporate
the totalitarian regimes of Mussolini and Hitler. But there was also an economic policy component of fascism, known in Europe during the 1920s and ‘30s as United States in the 1930s and survives to this day. In the United States these policies were not called “fascism” but “planned capitalism.” The word fascism may no
hatred of Jefferson, his philosophy of limited, decentralized government, and the policies of his administration. It was Jefferson’s election to the presidency in 1800 and Race in New England, 1780-1860 , by the early 1820s New Englanders commenced a policy of physically removing the small number of free blacks who lived among them. for the benefit of Northern manufacturers who, being “protected” from foreign competition, raised prices on some items like woolen blankets by 200 percent. As John
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.