...seems to be pro-Bush economists. Supply-side economists like Larry Kudlow have for long been even worse than liberal economists like Paul Krugman on issues like budget deficits and inflation. But this article from Thomas Nugent is among the nuttier I have read. He actually claims that budget deficits are good and should be as large as possible
No, but there is a revolution in scholarly journal publishing, reports the New York Times: A Quiet Revolt Puts Costly Journals on Web By PAMELA BURDMAN Published: June 26, 2004 When Dr. Miguel Nicolelis , a neurobiologist at Duke University, decided to release a groundbreaking study in an upstart online journal, his colleagues were flabbergasted.
We have all heard how deflation is supposed to prevent growth and create a economic depression. Yet for the latest 2 quarters Japan has outperformed the US not to mention the UK and the Euro zone with a growth rate of more than 6% at an annual rate compared to 4% in the US and even lower in Western Europe, according to the latest report . This is
While Edward Prescott was rewarded with the Nobel prize in Economics for his work on business cycles and monetary policy, he has also done some work on the issue of the effect on the effect of taxes in discouraging work efforts. And he concludes that virtually the entire difference between the United States and Western Europe in work efforts (both
Neocon Jonah Goldberg writes about how government intervention to solve problems creates new unintended problems, in these cases campaign-finance laws and how obesity has been increased by the anti-tobacco crusade and feminism. He attributes it to late Senator Patrick Moynihan, but he could have mentioned Mises as well. He of course do not want to
Whenever a country which has had large current account deficits for a long time suffers a fall in the value of its currency in response to this imbalance, huge losses are incurred either for the creditor nation or the debtor nation. Usually it is the debtor nation which suffers as the fall in the value of their currency increases the debt burden
At least usually, The Economist is regarded as a free market oriented publication. Yet in a story about “China’s collapsing health care” which unfortunately is not online in its August 21 issue it blasts the “communist” leaders of China for being too free market oriented when it comes to health care and urges them to increase government spending
The US Current account deficit reached a new record high of $166,2 billion or 5,7% of GDP in the second quarter this year. Except for maybe Australia this is the by far highest in the industrialized world. In fact many other rich countries like Japan, Germany and Sweden are recording record surpluses. This record deficit reflects a combination of
In a June 17 column Larry Kudlow predicted second quarter growth of 6%. It now appears to have been more like 3%. Of course, no one can predict the future so one should perhaps not be too hard on him , but this miss is particularly interesting since he in a column last November derided those who believed that the strong third quarter number last
Well, everyone is relieved now after today´s inflation report. Sure, the CPI rose 0,6% over the last month and 3,1% over the last year, both the highest number for years, but this number seem irrelevant. The core index rose only 0,2% m/m and 1,7% y/y so inflation is “really” under control so the Fed will now most likely only raise interest rates
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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.