The chairman was to “de-velop and recommend to the President national economic policies to foster and promote free competitive enterprise, to avoid economic fluctuations or to diminish the effects economic post in the White House. The presentation of the data and the policy recommendations have always been tainted by politics. There is a built-in bias
The real issue is the fundamental problem of public property. Economists speak of competition as if it always and everywhere leads to better service and performance. As regards government, Bush has been worse than any president since LBJ. On trade policy, he has been worse than anyone since Hoover. Kerry’s position is that Bush has
effort to bring us out of recession through a variety of fiscal and monetary policies. If recovery is really here, can we say that these policies have worked? Not because they were brought about through artificial means. There are also certain policy trends which suggest that it might not last or that it will not be as robust is going to inspire this sector to clean up its act? Protecting an industry from competition is a method that permits everything wrong with the industry to persist
farmers and other shippers from high prices—as its first act outlawed price competition. This devil’s pact led to the long decline and eventual bankruptcy of a managerial elite has dominated the corporate world (and much of U.S. government policy), often to the detriment of entrepreneurs, customers, and stockholders. Ludwig
charts in Economics In One Lesson : the unseen and long-run effects of government policy. To Hazlitt, as an Austrian school economist, “economics consists in looking was that neither economists nor the public understood the nature and effect of competition. Only unfettered competition protects the general interest against the
worlds that yields the market price. If businesses have been required by virtue of competitive pressure to sell at ever lower prices, how can they make a buck? By is something that businesses do when they have to. A monopolist is facing no competition (think of a government toll road) and so can charge high prices and possible path. But this is precisely what the Fed has endorsed as a matter of policy. It is hardly surprising that the central planners managing our lives would
central banks would abolish financial panics. In fact, they eliminated crucial competitive forces that would otherwise force banks to lend prudently. When trouble wholly private and responsible solely to its depositors’ demand for sound lending policies. Fractional-Reserve Banking . A competitive banking system would constantly face the threat of runs and would
to make this and install that, but it cannot solve the problem of how to resolve competitive uses of resources. That is only possible in an exchange economy. This of society at the least possible cost. It does this through exchange, cooperation, competition, entrepreneurship, and all the institutions that make possible Our age is dominated by the state and its errors in both domestic and foreign policy. The state has given us recession and war, while liberty has given us
business cycle in the first place. As the chaos of the 1970s showed—thanks to the policies of Richard “We-are-all-Keynesians-now” Nixon—Keynesian “countercyclical” cartel by reducing job opportunities for marginal workers and therefore cutting competition for their overpaid members. Federal regulation of business imposes very of Harvard’s Kennedy School of Government, for example, advocates an “industrial policy“ of “active”government” in “partnership” with large corporations ( Minding
to go to the pharmacy, where we pay prices outrageously inflated by the lack of competition made possible by the government grant of privilege called the patent. In we have here is the usual combination of graft and political payoffs called public policy. Of course prices will rise, which is what happens when something 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.