It took a few days, but the view is already deeply entrenched: The Blackout Was a MarketFailure (BBC). The article by Stephen Evans fails to point out few industries are so
in Iraq? In any case, the story is now being spun to make a case against the market economy itself: “The plan is also the latest and loopiest manifestation of a either such markets would provide valuable information or not, and the success or failure of the institution would be determined on that basis. Lacking such market
What is the best means for distater planning: government or market? As this story says , and many local reports confirm, Meijer grocery stores in the Midwest stayed open during the power failure, providing gas, water, batteries, and all the rest, while keeping all cash
But instead, Congress, with the blessing of the White House, short circuited the market process. Paid by government, working for government, and identifying with its vigor, innovation, and genuine public service to others. In the private sector, failure is punished with losses. After 9-11, we saw what happens when
The health of the labor market is not only a good indicator of where the economy stands in the course of the The Fed’s policy of rate-cutting to boost the economy--following the amazing failure in Japan--isn’t working. But UK central bankers, who appear about as
of fixing things up. Here’s what happens. Through what the textbooks call open-market operations, the Federal Reserve pumps excess money and credit into the economy Of course, there are knee-jerk Keynesians who blame every recession on a “failure of demand.” They’ll have trouble explaining how it could be that real
As isolated attempts on the part of each individual to resist are doomed to failure, the only workable way is to organize resistance by the government. The and the state have been transformed into an army; war socialism has replaced the market economy. Interventionism: An Economic Analysis (Irvington, NY, FEE, 1998
thought is far vaster than we ever imagined. We’ve also learned that our potential market is far wider than we ever thought. Our daily email list for receiving full work, which is so crucial to the advancement of liberty itself. Just as a power failure reminds us how much we depend on electricity, we need to be aware how central
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.