The Free Market 21, no. ( 2003) When I heard of the explosion of the space shuttle Columbia budgets under four presidents. All of these programs either have ended in abject failure or have eaten up hundreds of billions of tax dollars with questionable The real lesson of the Columbia disaster is that government enterprises are failures, and in the case of the space program, dangerous failures. Unfortunately,
The Free Market 23, no. 7 (July 2003) No one can argue about the current moribund economy, from more efficient firms and toward the less-efficient steel makers. In a free-market economy, capital follows its highest returns, and steel numbers right now are stay as liquid as possible, as the prospect of losing everything in a wave of bank failures is intolerable to them. However, the possibilities of facing criminal
The Free Market 21, no. 6 (June 2003) In recent newspaper columns, Paul Krugman of Princeton what is nothing less than a monetary Gosplan, and he is hardly alone among “free-market“ economists. Money is a medium of exchange, discovered and developed in the “monetary policies” but in the end, such policies will always turn out to be failures, as all of the important characters literally are flying blind without
their latest communiqué was that of organ donation, which this page and other free-market organizations have noted might function better and more justly (if I can use system, in which donors voluntarily give their organs for no compensation, is a failure, if one considers high death rates to be a sign that the system is
In the aftermath of the U.S. Senate’s failure to pass an “energy bill” for the coming year, the usual punditry has befallen was supposed to substitute “rational policies” for the supposed chaos of the market. Instead of having individuals competing with each other to produce and sell
from more efficient firms and toward the less-efficient steel makers. In a free-market economy, capital follows its highest returns, and steel numbers right now are stay as liquid as possible, as the prospect of losing everything in a wave of bank failures is intolerable to them. However, the possibilities of facing criminal
to size up a situation is tainted by their incessant statism—and their simple failure to recognize that the myriad of “energy crises” that have hit this country in of alternative fuels, since members of both of these groups contend that a free market not only cannot deal with the problems, but actually is the source of crisis.
the property and perhaps even his or her freedom. Property owners, who in a free market would be able to decide on their own whether or not they want to permit akin to the 1920s version of Prohibition, this time tobacco being the target, the failures of alcohol and drug bans not affecting them in the least. While many
problems for which advocates of free trade are being blamed—when, in reality, the failure of government to permit free trade within the borders of the United States is a place. Transportation facilities and costs, as well as proximity to a certain market also fall into the decision matrix. I mention these things because overseas
describe the current situation in Japan. The real problems holding back Japan—the failure of the Japanese state to permit the liquidation of long-malinvested recent columns, he has admitted that there were speculative excesses in the stock market and elsewhere. However, in Krugman’s world, that just happens because such
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.