how the Fed’s fixation on promoting price inflation is a big problem: The Fed’s policies severely undermine the middle class by making goods and services more who promise to help the middle class support this insidious wage-reduction policy. Inflation has very little visibility, but slowly, like negative compound But deflation can be good. It results from greater efficiency, competition, and innovation — the stock-in-trade of American industry. Our standard of living is
services are valued. Government regulations, on the other hand, involve arbitrary “policy goals” and reflect only the preferences of certain interest groups and compile some government statistics, produce some studies, and then turn to “public policy“ to impose a one-size-fits-all solution on every one of the 320 million while creating bubbles and distorting markets. Markets are then cut off from innovations while peaceful and efficient entrepreneurs, managers, and ordinary people
other topics. These differences produce sizable disagreements in terms of favored policies and world views in general. You wouldn’t know any of this from reading to avoid mass starvation — quickly had to retreat and implement the New Economic Policy allowing some market activity within the soviet economy. For Marxist purists, is too much economic leeway granted by governments to be entrepreneurial, to be innovative, or to exercise freedom. Unfortunately, neoliberalism, being a third-way
is just another federal legislature, although this one decides matters of public policy based on the opinions of a mere five people, most of whom spend their time would have rejected the whole notion of judicial review, which is itself a total innovation and fabrication dreamed up by Chief Justice John Marshall. Absolutely
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.