Due to credible competition that has emerged among this year’s candidates for the Hubris in Monetary Policy Award, the Award Committee has announced that it is officially deadlocked. The
Due to some incredible competition over the last two weeks, this year’s Hubris in Monetary Policy award will go to someone other than Alan Greenspan. To be sure, it looked like
walk away, but one town is fighting back. (Story in today’s NYT .) Point: In a competitive global environment, ... ...tax breaks can’t trump the adoption of competitive tax and regulation policies relative to those overseas, and as a result, states’ and cities’ “economic
we should support. Time also exists to tell us what we should think about their policies, especially when they contradict our “shared” aspirations. The magazine (think Philip Morris and the Altria Group ) use such regulatory capture to reduce competition, make market entry more difficult, and gain market power — all at the out, as Ludwig von Mises reminded us in his classic essay , “Middle-of-the-Road Policy Leads to Socialism” — a must-read for anyone concerned about the full effects
reformers argue for practices that threaten this structure by celebrating competition that encourages improvement of underperforming public schools, reverses a position represents a remarkable shift of emphasis by a director of education policy at the American Enterprise Institute, where calls for abolishing the
him. Second, the employer was clearly not profit-maximizing and would attract competition from more efficient competitors drawn by the opportunity to produce the firm. It also follows that in a modern, global economy, where any uncompetitive policy threatens firm survival, workplace racism is even less likely. Wage policies
foes, Krugman shows the same originality of thought that he does with monetary policy. In fact, the term “knee-jerk monetarist” could more truthfully be applied to that can minimize their impact. Ignored are the long-term effects of these policies that cause fluctuations in the first place. As Henry Hazlitt pointed out in the same column to criticize the recent mergers of major airlines as a threat to competition “in an industry where monopoly pricing is already a big problem.” Aside
and questions arose about whether Miami-based cigar manufacturers would survive competition from los cigarros cubanos . Unfortunately, a threat bigger than government are actually acts of extortion worthy of the Castro brothers. The FDA’s policies — fascist in the sense that they allow for private ownership but government
the Patriot Act. Similarly, Candidate Bush’s campaign speeches on a humble foreign policy significantly contradict today’s dangerous extension of costly military three and a half years, especially following pro-government Bush Administration policies on trade, immigration, education, and the national debt. Most recently, I because they perceive them as being relatively less statist in action than the competition. At the very least, we should point out the discrepancies between the
for centralized power! Table 1 lists just a few of the results of these policies, and it explains why the presidential candidates are all about the include the fact that prices actually do adjust downward—rigidities are rare in competitive markets and more common in regulated ones. So if markets are not clearing that such demand-side policies themselves became sticky, entrenched as Keynesian policy institutions. While much of economics as a science has moved on from Keynesian
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.