By Michael S. Rozeff The IMF is lending $18 billion to Ukraine’s government, so that it can pay one small part of its huge debts. The money will go to the lenders, which include banks, mainly in Europe, and other investors in Ukraine’s bonds. This will not stem Ukraine’s economic decline . The IMF’s price includes higher taxes, which will make it
As with the Venetian secession , regions of larger states often secede because they resent being taxed to subsidize other regions of the country. Less often is the case that a region leaves one nation state because it can get more and better subsidies in another nation states. According to Jason Ditz at antiwar.com, however, this is a big factor
Writes Ed Dolan, the 2014 F.A. Hayek Memorial Lecturer at the Austrian Economics Research Conference: Today on my blog I posted the second in a two-part series on Austrian environmental economics and emissions trading, based in part on the Hayek lecture I gave at the Mises Institute conference in Auburn last month. I thought that some of the
Mark Thornton writes: Patrick Barron on Redmond Weissenberger’s podcast Better Red than Dead , on The Ricardo Effect . Like Say’s Law, it’s another piece of classical economics that is under-appreciated by modern Austrians. Barron also makes the point that I had not heard before that there is a perverse Ricardo effect put into play by
Here we go again. I’m inclined to give people the benefit of the doubt when they say talk about inequality, and at least assume that it’s possible that they could mean that legal or political inequality is the problem. That is, we could agree that it’s bad when states favor certain groups (rent seekers) at the expense of other groups (taxpayers),
Janet Yellen spoke to lawmakers today. After making it very, very clear that bad weather is the cause of the lackluster economy, Yellen then went on to confirm that the Fed will wind down quantitative easing (specifically, the bond-buying stimulus program) seven months from now if ”the labor market continues to improve and inflation remains
The Chinese government is desperate to keep its bubble economy going, and one way it’s doing that is by spending on massive infrastructure projects. The “China Bubble,” built on huge construction projects such as subways, skyscrapers, highways, and housing, continues to astound with the sheer numbers involved, from the height of the skyscrapers to
After reviving conscription, killing protestors in Odessa, and seizing ballots in eastern Ukraine, agents of the Ukrainian state now denounce organizers of the plebiscite in eastern Ukraine as “terrorists.” “The farce, which terrorists call the referendum, is nothing more than propaganda to cover up murders, kidnappings, violence and other serious
Marc Abela, organizer of the Mises Meetings in Japan (Abela is interviewed about libertarianism in Japan here ) sends along this photo of himself with Tatsuya Iwakura. Mr. Iwakura is the translator of numerous essays and books by Austrians including Mises, Rothbard and others. His author archive on Amazon, which lists his many translations, is
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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.