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
was fixed exchange rates based on fiat money and international coordination. Markets are fluid and changing. The government fixed exchange rate is bound to be some fixed exchange rates by international agreement has a long rich history of failure, once again illustrating that government power is no match for the relentless and merciless forces of the market. All of which does not bode well for China’s ability to maintain its own fixed
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
up the slopes of advancing material progress. In short, though in a truly free market, even the largest business concerns would be like Kipling’s Cities and Thrones If there are more jobseekers than jobs--which implies, as with all uncleared markets, that those offering the good (in this instance their labour) are pricing it
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.