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
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
every country: the government provides protection for the banking industry against competition, in exchange for which the banking industry agrees to act as the money to prevent deflation and kick start lackluster global growth, including unorthodox policies such as buying up financial assets.” And with whose money will these banks
costs for everyone else, as those who do not qualify are faced with increased competition in bidding for houses. It might seem that, with all of the downside to All too often, many developers have sought to gain from influencing government policy rather than fulfilling the wishes of the consumers.) The current housing
activity in an economy has to be backed by resources and therefore it is always in competition with other activities for scarce real funding. Hence if more is spent on that as a result of ever-growing government outlays and the reckless monetary policies of the Fed, it is mission impossible to have an effective cut in taxes. That
to create an economy out of nothing, absent entrepreneurship, private property, competition, and mutually beneficial exchange. An economy is built one trade at a events themselves. Government action often generates results opposite of those the policy is constructed to create. The Bush administration did not want to believe
and division of labor. Markets exist in different forms. We may choose between competitive markets and monopolistic or mercantilist markets. However, there really first time in its history the Soviet leadership was able to pursue successfully a policy of guns and butter as well as growth. . . . The Soviet citizen-worker,
• Myth #2: Lower interest rates and easy credit will promote recovery. Just as policy in the second half of the ‘90s led a whole host of entrepreneurs—many of the amounts of debt on the shallow foundation of our failing global productive competitiveness. But we certainly haven’t seen any evidence of deflation yet—only hindered by the combined shackles of the bubble overhang, bad monetary and fiscal policy, over-regulation, the imposition of tariffs, high energy prices and the threat
that the Keynesians had won not by having better argument but force of government policy. The Misesians and Hayekians of the time decided that they would fight the the difference if they choose not to. Those who contract to provide security face competition and have the incentive and means to provide what they promise. What a
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.