Many people know that the Venezuelan economy is subject to byzantine price controls and other regulations. But on top of it all is a highly complex, bureaucratic, and damaging system of government-controlled monetary exchange rates.
Murray Rothbard dreamed of a fellowship program at the Mises Institute where students could become new Austrian scholars. In the twenty years since Rothbard’s death, the Mises Institute has worked with hundreds of young academics to build a new generation of Austrians.
Like the Greenspan Fed before it, the Yellen Fed has doubled down on easy money, but will trigger a crisis once it tries to inch toward more normal interest rates.
In his book Never Let a Serious Crisis Go to Waste, Philip Mirowski correctly diagnoses many problems with neoclassical economics. The reader soon notices, however, that Mirowski doesn't know the difference between Austrian economists and neoliberals.
With a new funding package in place, the Jeddah Tower — on track to be to be the world’s next tallest skyscraper — is moving forward. Will it prove to be like the Burj Khalifa tower and signal the next bust?
“Austrian insights distill the complexity of what we business owners do down to a very simple mantra: satisfy the desires of others. That's it. That's all any of us are trying to do.”
Mises was not only a dazzling economist and champion of liberty, but no Communist, nor Nazi, nor central banker could pressure him into doing the wrong thing
Political Correctness is best understood as propaganda. But unlike propaganda, which is particular campaign or effort, PC is all-encompassing. It seeks to mold us into modern versions of Marx’s un-alienated society man, freed of all his bourgeois pretensions and humdrum social conventions.
In December 1914, is an event the official histories of the “Great War” ignore, British and German Soldiers came out of their trenches and celebrated Christmas together. One soldier later observed, "Never ... was I so keenly aware of the insanity of war.”
Former Mises Fellow and current economics professor Mateusz Machaj discusses free market reforms in Poland, central banking, and the lack of Polish appetite for joining the eurozone.
