Frank Hollenbeck, in “ Why Keynesian Economists Don’t Understand Inflation ” argues that a fundamental shift in macro theorizing, shifting from the transaction version of the equation of exchange to the income form of the equation, particularly in theorizing about the demand for money is wrong theory and hence leads to bad policy and a inherent
Noah, commenting on “For More Jobs and Stability, Set the Economy Free” , points to second important observation in the linked commentary by Kevin Warsh – the spillover effect of Fed Policy, with significantly negative long run consequences, on the world economy. From his comment: The piece by Kevin Warsh that was linked in the article (“Finding
Over at Econlog Bryan Caplan explains “ Socialism Was Born Bad: The Case of Oskar Lange ” Both Don Boudreaux (at Café Hayek on March 25, 2014 ) I (on a Facebook share of the post) noticed that the “clarity of thought [which] led him [Lange]directly to a totalitarian vision that he gladly embraced” also provided arguments that support regime
Ryan McMaken provides an excellent response to the current the inequality is the root of evil nonsense . It is amazing how many on the left choose not celebrate the tremendous success of liberal institutions that support markets in generating prosperity. The evidence of the success of these classical liberal institutions; markets, property rights,
More “good news” on how regulation protects consumers while advancing welfare: Marijuana testing labs barred from taking individual samples: Read the Full Story Here
Thomas Piketty’s Capital in the Twenty-First Century has drawn raves from the many uncritical pundits and academics on the left. For the meddlers, the book is about the ‘right’ topic, inequality, at the right time. Never mind that the question is wrong ( here , here , and here ). Hunter Lewis and Peter Klein in recent Mises dailies have
Two Monetary Policies in One A summary from The Denver Post of Federal Reserve Chairwoman Janet Yellen’s report Wednesday May 7 to Congress: The U.S. economy is improving but the job market remains “far from satisfactory” and inflation is still below the Fed’s target rate. Yellen said that as a result, she expects low borrowing rates will continue
Volume 14, No. 4 (Winter 2011) The 2007–2008 financial crisis, accompanying recession, and continuing slow recovery have reinvigorated crude Keynesianism as the foundation of a “somebody in charge” policy to combat recession and high unemployment. Wapshott ”The federal government’s urgent response to the financial crisis of 2007–2008,
Volume 13, Number 3 (Fall 2010) The process of reabsorbing an economy’s various unemployed resources into new or expanding enterprises (i.e., economic recovery) potentially begins in the same moment that the discovery of and adjustment to previous errors and resource misallocations take place (i.e., the onset of recession). If all resources
Volume 13, Number 3 (Fall 2010) Complete with an extensive new preface, the republication of Larry Sechrest’s Free Banking is well-timed. The new preface is an important contribution to the ongoing debate within Austrian circles over banking freedom versus 100 percent reserve banking. Easier access to the book will be an asset for those
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.