Even well-read fans of Austrian economics often have a hard time understanding and conceptualizing what the Fed really does. So we asked our good friend Dr. Jeffrey Herbener to join us and make sense of it all. We cover the basic blocking and tackling of central bank mechanics: how commercial bank reserves are created, the difference between the
[Written Testimony before the Subcommittee on Domestic Monetary Policy and Technology Committee on Financial Services, US House of Representatives, May 8, 2012] In a seminal article published in 1920, Ludwig von Mises demonstrated that there is only one test of whether or not production of something conveys a benefit on society at large. [1] It
The Free Market 15, no. 2 (February 1997) If members of the congressional classes of 1994 and 1996 are serious about curbing government, they should rally around Ron Paul, the newly elected congressman from Texas’s 14th district. For Ron, a longtime friend of the Mises Institute, is the outstanding political opponent of the main engine of
The Free Market 13, no. 4 (April 1995) Four in five Americans opposed the $50 billion Mexican bailout, but they were powerless to stop it. When the central bank says it’s in charge—as it does in every financial upheaval of this magnitude—we are supposed to hold our tongues and leave it to the experts, even if their actions generate only
The Free Market 13, no. 8 (August 1995) The economy is again teetering on the brink of recession, and everyone’s calling on the Fed to do something—anything!—to prevent another economic slump. But while the Fed has mastered the art of messing up the economy, it doesn’t have the ability to stop the bad consequences of its own manipulative
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.