deflation. Highlights: Rather than assisting a post-recession recovery, these policies – plus other market-harming government interventions, regulations, and in the entire period since the end of World War II in 1945. And A free, competitive market economy is always rewarding successful entrepreneurs with profits less expensive goods to earn consumer business. Thus, the normal trend in a free, competitive market is a world of gently falling prices as innovative businessmen
Yesterday’s Wall Street Journal had a nice short summary of how bad housing policy over several administrations misdirected greed (self interest or prudence) by the affordable housing cabal that channeled self interest, which normal market competition guides into patterns of behavior which benefits market participants and
Austrian analysis of the Great Depression would include an analysis of all the policy errors and regime uncertainties created by both administrations. This truly the [Roosevelt] New Deal, in part reflecting New Deal industrial and labor policies that substantially distorted normal competitive forces of supply and demand. The policies depressed employment and output
mostly a hatchet job, he does provide relatively strong evidence of an important competition between the ideas of Keynes and Hayek during the 1930s. This assessment to keep these ideas from challenging the current revival of knee jerk Keynesian policy. More relevant is the not question of the whether there was a significant
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.