If there is anything that we have learned from the development of the British economy since the Brexit referendum is that doomsayers were wrong. Since the Brexit vote, the UK has created 450 thousand jobs . Unemployment stands at a 4% rate, the lowest since 1975 . Labor Participation Rate is at 75%. This compares to an EU unemployment of 8.7% and
“And I will pray to a big god, as I kneel in the big church” —Peter Gabriel Imagine for a moment that you are a British citizen with doubts about Brexit . You turn on the television and listen to the President of the European Commission, Jean-Claude Juncker, state the following: That the 27 countries of the Union should adopt the euro and be in
In recent weeks, the euro has been at its highest level, relative to the US dollar, that we’ve seen in the last three years. This is a movement that surprises when the European Central Bank is carrying out the most aggressive monetary expansion in the world after the Bank of Japan. A strong euro is not a problem for any European citizen. European
The end of the era of cheap money highlights the risk of “Enron-style” bankruptcies in many sectors, including renewable energy. With the path of three rate hikes in the United States in 2018 confirmed by the Federal Reserve and a nervous equity market, the challenges are more evident than ever. The past eight years of massive liquidity and low
By the time you finish reading this article, some 600 people from all over the world will have escaped poverty . In 1990, 35% of the world population lived in extreme poverty. Today, that figure has fallen to 10.7%, according to the World Bank . In 1987, there were 660 million poor people in China. After its economy opened, that figure has fallen
If we want a true alternative to fossil fuels that improves the environment, reduces emissions, and strengthens global welfare, it will only come from the free market. Historical evidence and economic incentives show us that interventionism and socialism never protects the environment; they only use it as a subterfuge to increase control of the
The Federal Reserve has injected $278 billion into the securities repurchase market for the first time. Numerous justifications have been provided to explain why this has happened and, more importantly, why it lasted for various days. The first explanation was quite simplistic: an unexpected tax payment. This made no sense. If there is ample
The Federal Reserve, through its president Jerome Powell, has indicated that it is preparing to increase its balance “organically”. The effort to separate this latest monetary policy change of course from a full-blown new QE (quantitative easing) is, at the very least, amusing. If we look at what is being discussed, it has nothing to do with
The Bank of International Settlements (BIS) has warned again of the collateral damages of extremely loose monetary policy. One of the biggest threats is the rise of “zombie companies.” Since the “recovery” started, zombie firms have increased from 7.5% to 10.5%. In Europe, Bof A estimates that about 9% of the largest companies could be categorized
It is sad to see that, facing the evidence of the failure of demand-side policies and money printing, many commentators propose some of the most outdated and failed policies in modern economic history. In the UK, Mr. Jeremy Corbyn, the new leader of the Labour Party, believes that the government spends too little. With a current 44.4% of GDP
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.