The Bureau of Economic Analysis released January figures for Personal Consumption Expenditures (PCE) today, including the price index based on that data. News headlines report the year-over-year percent change in the PCE price index: 2.4%. This gives the impression that price inflation is heading towards the Federal Reserve’s supposed target of
Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent. Stephanie Kelton
“Why do we borrow our own currency in the first place?” Stephanie Kelton posed this question in her new documentary, Finding the Money , and a clip of Jared Berstein’s fumbled response to the question has gone viral on social media. Bernstein is the Chair of the Council of Economic Advisers to Biden, and so we would expect that he would have an
Tucker Carlson is apparently warming up to Austrian economics and the work of the Mises Institute. In 2019, when he was still on Fox News, he made a quick dig at Austrian economics, and he was critical of “libertarian economics” as recently as December of last year. But Austrian economics and the Mises Institute have come up in his interviews with
“Additional units of a homogeneous good must go toward less important ends.” Is this an ethical claim? Does it fall under political science? Or is it an economic law? According to Robert Reich, economics, properly considered, is in a mush with politics and morality. He has started a new ten-week series debunking economic myths, and the first one
Robert Reich’s second myth is “Government Obstructs the Free Market.” (See my response to his first myth here .) He says that what we call the “free market” can only exist with a government enforcing rules about property, monopoly, contracts, and bankruptcy. Reich makes the case that big corporations and the super-wealthy have steered the
Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie’s new bill to End the Fed. The X thread discussing the “End the Fed Bill”: Mises.org/HAP450a Selgin, Lastrapes, and White, “Has the Fed Been a Failure?”: Mises.org/HAP450b Bob’s Article, “Putting the Country Back on Gold”: Mises.org/HAP450c The Mises
In a new YouTube series , former US Secretary of Labor Robert Reich promises to explode ten “economic myths.” Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science, and whether government intervention interferes with a free market. Robert Reich’s ‘Debunking Economic Myths’
Murray Rothbard llamó a Richard Cantillon el «padre de la economía moderna». Aunque ese título se suele dar a Adam Smith, Rothbard sugirió que todas las cosas buenas de Smith fueron descubiertas primero por Cantillon u otros economistas pre-smithianos y que prácticamente todas las ideas originales de Smith eran «un deterioro significativo del
Buenas noticias Paul Krugman ha declarado un «aterrizaje suave mejor que el de Ricitos de Oro» debido a que (sus medidas favoritas) la inflación de precios alcanza el dos por ciento y el PIB real crece al 3,3 por ciento. Malas noticias La morosidad de las tarjetas de crédito se ha duplicado desde 2021. Las acciones de los bancos regionales
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.