The Atlas Institute’s Alejandro Chafuen in the European Journal (in .pdf; scroll down to page 8): “Europeans often complain that letting the companies with the best products win in the marketplace is the equivalent of ‘economic Darwinism.’ They forget that government bodies have typically been the most voracious predators of productive
Does the English-Fedspeak Fedspeak-English Dictionary include an entry for deflation ? Consider the Fed’s pronouncement yesterday about the current state of the economy: “The committee perceives that the upside and downside risks to the attainment of sustainable growth for the next few quarters are roughly equal. In contrast, the probability,
“[A Milken Institute study ranking cities based on job growth] showed a shift in the strength of the nation’s cities, from larger, technology-driven areas to mid-sized urban centers with more traditional businesses, such as health care and government,” writes Randi Marshall in Newsday. ’In some respects, I think it represents a true change,’
“Until now, the money-laundering rules haven’t been controversial, and Mr. Sensenbrenner is intervening late in the process,” writes Glenn Simpson in today’s Wall Street Journal. “The rules, which codify the 2001 antiterrorism law known as the Patriot Act, take effect June 9 and have been in the works for more than a year. But some of the
From the Seattle Times: “Merrill Lynch, Morgan Stanley, Wal-Mart, General Electric and other companies are gaining support in Congress for the right to set up a nationwide banking system that could compete with commercial banks but operate under looser federal rules. Consumer groups, bankers, some lawmakers and Federal Reserve Board Chairman
...or at least for accounting firms. Bloomberg reports that accounting costs for companies with less than $3 billion in annual sales have more than doubled because of this regulation, according to a study released recently by law firm Foley & Lardner. Overall compliance costs, including public relations, insurance, legal and directors’ fees have
Today’s Wall Street Journal has a front-page story focusing on the question, “ Why does this recovery feel so much like a recession?” ($). It is a question that has perplexed some of the economics professions’ leading macro theorists who predicted months ago that a recovery would be well under way by now. Says the NBER’s Robert Hall: “It seemed
The CBO projects a budget deficit of over $400 billion for FY2003, reports this morning’s Washington Post . ”Daniels predicted the deficit for 2004 would look better, but Wall Street economists have said next year’s deficit will likely approach $500
The wavelike movements affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, [and it] is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom
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.
