in order to arrive at a rational judgment of its nature. Destructionist government policy has increasingly restricted the supply of electric power in California and few or no new coal, oil, or hydroelectric power plants built. Indeed, government policies have caused existing plants of these types to be dismantled. In California, to operate, and would quickly be plunged into unprofitability if exposed to the competition of other types of power plants. Moreover, the government-caused
concerning “aggregate demand” and “aggregate supply,” Alan Greenspan’s actual policy views may stem from his tryst with Austrian economics about forty years ago, and the expected length of the production period would differ from firm to firm. Competition among firms would set the prices of higher-order goods so that the profit “alignment” between aggregate demand and aggregate supply that Alan Greenspan’s policies are specifically intended to address. It is the relation between consumer
than the theory of production and distribution put forth under conditions of free competition and a large degree of laissez-faire.” Social life too, was centralized by the Serbs as well as the Chinese. Collective guilt has returned as central-state policy in relation to official victims’ groups and their alleged victimizers and has
no centralized rules restricting the freedom of association. There was no national policy on anything but foreign policy, and, even here, there was no permanent stationing of troops outside the the public has a strong stake in preserving the freedom to trade and an unhampered competitive marketplace. This is true whether we are speaking about domestic or
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.