approach to economic analysis. Instead, modern microeconomics depicts a competitive equilibrium as the benchmark for economic efficiency, and analyzes how economic policy can move an economy toward that equilibrium. This is done by correcting innovative firms and slowing economic progress. In macroeconomics, stabilization policies work against progress by using monetary policy to interfere with price
account that covers the full range of the Obama administration’s economic policy. Readers stirred to anger by the simpleminded statism of Paul Krugman will be the 1950s and even the 1960s . One major change has been increased international competition between countries over taxes. For investors in international capital
country and also has its fastest growing economy. Estonia implemented an austerity policy that depended largely on cuts in government salaries. There simply is no work. Real austerity involves cutbacks in government wages and benefits. Austerity policies typically occur during economic crises when everyone is facing cutbacks and garbage collection, the police force, and the fire department (unless private competition in these areas are allowed) while leaving the military, the education
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.