Thinking that billionaires are a policy failure has become pervasive in the United States. Politicians like Alexandria is a reward for generating immense value. Moreover, most benefits of technological innovations are passed on to consumers rather than appropriated by innovators. Billionaires are net value generators since their investments in society
J. Pollock’s “ Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy? “ became the focal point for a wide-ranging discussion of monetary issues to the unwitting public through loss of purchasing power. Per Kupiec and Pollock: “Innovations“ in accounting policies adopted by the Federal Reserve Board in 2011 Reserve notes, dollar denominated cash balances and fixed-rate assets. The “innovation“ in accounting policies centers around the Fed’s newly minted “deferred
around. But is it really more dangerous to elect a president who makes up economic policy on the fly than one who proclaims to have a detailed plan for us? The answer of which are impossible to predict. Furthermore, central planning shuts down innovation and the entrepreneurial process because it assumes to know today what is
on the second leg of their flight. This reduced the cost of flying. These innovations would not have occurred without deregulation. This is the beauty of the marketplace. Innovators come up with better ways to serve the public. Further, Professor Stiglitz of deregulation to work, we would need to have the European Union adopt a similar policy for US airlines in Europe. What Europe does makes no difference for people who
and wage rates which is the inevitable consequence of inflation. This semantic innovation is by no means harmless. (emphasis added) Mises again referred to the available to signify what inflation used to signify. It is impossible to fight a policy which you cannot name . Statesmen and writers no longer have the opportunity
“misinformation” and “disinformation” about any number of issues—international policy and warfare, economics and recession, pandemics and vaccines, politics and sees it, only those who adhere to “market fundamentalism” can maintain that such “innovation, progress, and growth are the product of government’s absence.” In
does it matter that economic literature shows that inequality is compatible with innovation. In fact, inequality is needed for innovation. Talent disparities are the In a captivating new paper, Daniel Waldenstrom observes that progressive policies are antithetical to income equality in the long-run: The postwar hikes in
Facebook’s market cap. Indeed, antitrust has reasserted itself in economic policy, and under supposedly good intentions. Regulators and lawyers in the field and breaking up companies, antitrust law can lead to lower prices, increased innovation, and overall more efficiency. Above all, claims like these are guided by
the global economy. Now that engine has been derailed by the reckless monetary policies of the Fed and by shortsighted financial innovation. When equity bubbles collapse; everybody pays. Demand for goods and
how the Fed’s fixation on promoting price inflation is a big problem: The Fed’s policies severely undermine the middle class by making goods and services more who promise to help the middle class support this insidious wage-reduction policy. Inflation has very little visibility, but slowly, like negative compound But deflation can be good. It results from greater efficiency, competition, and innovation — the stock-in-trade of American industry. Our standard of living is
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.