From an accounting standpoint, future retirement is considered as properly prefunded if either the government sets aside tax money to make future payments or if an individual himself saves his own money for the same purpose. In the following example, I try to suggest that even if this accounting requirement is satisfied, and even if the government
In an article in the March 2003 Harvard Business Review entitled ‘For the Last Time: Stock Options Are an Expense’, authors Zvi Bodie, Robert S. Kaplan, and Robert C. Merton attempt to justify the expensing of stock options. As shown in the excerpt quoted below, one of the keystones of their argument is a claim that because stock grants represent
The Question of Miniscule Quantities of Gold Money During the Transition From Barter to a Money Economy If all existing available forms of gold are placed in one of the two categories of monetary or non-monetery gold, then those two categories must be simply synonymous with the two categories of exchange-valued and subjective use-valued gold,
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.