intervention in energy markets is again being heard. Interests promoting these policies advocate both government manipulation of markets for oil, coal, natural gas, would occur. However, rather than calling for fiscal responsibility (let alone competitive market forces), Pardo advocated doubling down: greater, longer-term state in the jungles, the same promoters who had mocked mule caravans came to blame competition from them for the business failures. It is unsurprising and conspicuously
a while, more and more entrepreneurs copy the strategy of the pioneer firms until competitive behavior forces profits to go down again and a depression begins, in of Our Time The critical remarks mentioned above are of utmost importance for policy advisers. If the business cycle is not driven by innovations as such, but by Scarce factors of production are thus missing in the middle and late stages. The competition for these factors will eventually cause their prices to rise. Finally, it
coming to realize what Austrians have long warned, that the increasingly absurd policies of central banks offer no hope for true, sustainable economic growth. Sadly Robert Murphy Mises: Politics and Liberty by Ludwig von Mises The Real Meaning of Competition by Peter Klein What Harry Potter Can Teach the Federal Reserve by Tho
visceral reaction to Ted Cruz’s earlier debate comments about gold and monetary policy. Dr. Joseph Salerno joins Jeff to discuss why gold — or currency competition in general — is so offensive to the central planners of both parties.
attributed their stock market bubble and high growth rates to easy monetary policy, management style, and government managed technological development. Since such change as exogenous are a poor guide to understanding the dynamics of market competition and the effects of policy on such competition.” They argued that the
that the government do nothing except for minor adjustments to monetary and fiscal policy along with so-called “automatic stabilizers.” The exceptions to this rule in the traditional laissez-faire manner of leaving things alone but instead with policies that attempted to reverse the economic crisis. In the first three major losses. In other words, the price system is hampered and the economy is no longer competitive. It would be hard to disagree with Ben Powell (2009, p. 20) who
prices have many benefits both for the economy and for those subject to monetary policy. For example, price inflation is reduced when oil prices fall, which lowers which is widely believed to be kick-started by the Fed’s unprecedented easy-money policies. Nevertheless, the argument in favor of high oil prices is logically not , many companies — or at least many extraction operations — will consequently lose competitiveness and be forced to shut down. Layoffs will follow and the ripple effect
article. Confronted with a severely weakened economy as the consequence of the policy-ordered lockdowns, governments now get ready to apply another severe blow to 107.6 percent in 2020. Nevertheless, these massive fiscal and monetary stimulus policies in response to the crisis of 2008 have not led to strong economic growth
of Ayn Rand enabled me to integrate Rand’s philosophy and use it as a major competitive advantage for myself and for BB&T.” [p. 277]) No, he also caused the doctrines that led to financial ruin. But were not inflationist and mercantilist policies popular long before Kant? We fortunately do not need to try to clarify this laudable goal. Robert Wenzel, in an excellent notice of the book in his Economic Policy Journal , has already called attention to a number of Allison’s questionable
concern among some commentators that the current, extremely loose monetary policy of the US central bank could fuel another round of asset-price bubbles. This from lender to borrower — and no change in the money supply). The Fed’s Monetary Policies and Asset-Price Bubbles It must be realized that without the support from lends fictitious claims or money out of thin air. Conversely, as the number of competitive banks diminishes, that is, as the number of clients per bank rises, the
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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.