Abstract: Industrial policies (IPs) include such varying practices as production subsidies, export and are commonly used by countries to promote targeted sectors. However, such policies can have significant impacts on sectors other than those targeted by the paper examines whether steel-sector IPs have a significant impact on the export competitiveness of the country’s other manufacturing sectors, particularly those that
conditions, even battling glaciers of various ice ages. This is an illustration of competition and comparative advantage in nature. Fire plays a role in the competition the government are like government intervention in the economy. Fire-suppression policy aims to put out most forest fires as soon as possible. This can lead to too
deflation. Highlights: Rather than assisting a post-recession recovery, these policies – plus other market-harming government interventions, regulations, and in the entire period since the end of World War II in 1945. And A free, competitive market economy is always rewarding successful entrepreneurs with profits less expensive goods to earn consumer business. Thus, the normal trend in a free, competitive market is a world of gently falling prices as innovative businessmen
What the media calls a “currency war,” whereby nations engage in competitive currency devaluations in order to increase exports, is really “currency that weakening one’s own currency will improve domestically-produced products’ competitiveness in world markets and lead to an export driven recovery. As it accuse their countries’ trading partners of engaging in this “beggar-thy-neighbor” policy and recommend that England and the US respectively enter this so-called
beauty of a quote: The problem is that Germany has continued to maintain highly competitive labor costs and run huge surpluses since the bubble burst — and that in a a significant part of the problem. Only in today’s surreal world of economic policy could being highly competitive be deemed detrimental. This criticism of Germany is not new, but we are
they set up demonstration projects to reduce costs. This will all encourage more “competition” among schools. Yes, you heard that right: more government control of as its operating manual. Of course, Obamacare not only rated medical insurance policies; it mandated what would be in them at what prices, which in effect put
Yesterday’s Wall Street Journal had a nice short summary of how bad housing policy over several administrations misdirected greed (self interest or prudence) by the affordable housing cabal that channeled self interest, which normal market competition guides into patterns of behavior which benefits market participants and
restrictions on school construction by private entrepreneurs limit the amount of competition tax-funded schools face. So, parents are compelled to send their children system. Without freedom of parental choice in education, the state will pursue a policy of extending its monopoly over education . Tenured, state-funded bureaucrats
Hoover and his administration. Based on his research, Ohanian argued that Hoover’s policy of propping up wages and encouraging work sharing “was the single most Ohanian estimates that the severe labor-market disequilibrium induced by Hoover’s policies accounted for 18 percent of the 27 percent decline in the nation’s GDP by those of Hoover, that increased labor’s ability to raise wages above their competitive levels. The Depression would have been much less severe in the absence of
Examiner, Timothy Carney looks at the factions behind the recent Summers-Yellen competition for the Fed’s chairmanship. “Right vs. Left” narratives are of pretty of the fed, of course, as Carney notes: Ron Paul in recent years brought Fed policy to the attention of many conservatives. Paul comes from the “Austrian School”
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.