Austrian economists, I believe, understand the Federal Reserve System like no other people because they despise it so much. In fact, Austrians condemn central banking in general because tcommons.wikimedia.orghey recognize that these institutions are set up primarily to fund profligate spending by politicians and to rescue banks from their own
In the government’s never-ending quest to end the recession for which it is responsible, we have heard many references to consumer spending being partly responsible for not making things worse. However, it seems that consumers have been less than “patriotic,” as stores report somewhat lackluster sales for the Christmas shopping season, which
With the mid-term elections barely over, the Federal Reserve, in a move that gives even politics a bad name, has announced yet another cut in its key interest rates. The Federal Funds Rate is down to 1.25 percent, while the discount rate now stands at 0.75 percent. No doubt, economists from all sides will applaud this “long overdue” move by
Writer Neal Gabler recently “confessed” his “secret shame” in an Atlantic Monthly article on how a huge percentage of middle-class Americans are living beyond their means, existing paycheck-to-paycheck, and are mired in personal debt. He writes: I never spoke about my financial travails, not even with my closest friends—that is, until I came to
Once an avid reader of Paul Krugman’s New York Times twice-weekly columns, I admit to rarely even glancing at his work now, since I know that anything he writes is going to have the theme of “Trump evil, Democrats good” each time, and it doesn’t take long to get one’s fill of that, even if one disagrees with Donald Trump’s policies or cringes at
In the election of 2000, John Ashcroft managed to lose his Missouri seat in the U.S. Senate by losing to a dead man. However, in the last few weeks, we have seen the U.S. dollar do one better, as it has lost ground to what was supposed to be a dead currency, the Iraqi dinar, better known as the Saddam dinar, which portrayed the face of the
El 15 de agosto de 1971, los últimos restos de lo que había sido un magnífico sistema monetario murieron de forma terrible, y las élites académicas, políticas, empresariales y mediáticas americanas encabezaron las aclamaciones. El promedio Dow Jones subió más de 32 puntos al día siguiente. Un impago nacional de facto se presentó como una gran
Con el reciente aumento de la inflación —con los consiguientes incrementos en los niveles de precios al consumidor y al productor— uno sospecha que tarde o temprano la gente de la izquierda le restaría importancia o encontraría una manera de convertir las malas noticias en algo positivo como un alquimista querría convertir la paja en oro. Ambos
Casi todos los que siguen las redes sociales están familiarizados con los últimos tweets de la senadora Elizabeth Warren, que ha pronunciado su veredicto sobre el aumento de los precios de los alimentos y la gasolina: son nada menos que el resultado de la codicia corporativa. De hecho, según Warren, no hay inflación, sino que las empresas suben
Mientras las ondas financieras tras la reciente quiebra del Silicon Valley Bank (SVB) siguen recorriendo el sector financiero, una voz previsible ha opinado sobre el asunto y, como siempre, dando malos consejos. Elizabeth Warren, que nunca deja pasar la oportunidad de roer públicamente un cadáver financiero, escribe en el New York Times que todo
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.