Peter Brimelow, writing on Marketwatch , has a generous link to my piece today, and writes: Shostak’s position is consistent with the Mises Institute’s commitment to Austrian-style free-market economics, which rejects all central banking as government manipulation. But his critique of Bernanke was echoed, curiously, by Paul Krugman — Bernanke’s
The Free Market 20, no. 7 (August 2002) The June 3, 2002 , issue of The Nation heralds the 2001 Nobel Laureate Joseph Stiglitz as a “rebel with a cause.” That characterization is certainly a stretch for an economist, who is former senior vice president of the World Bank and who adheres to orthodox Keynesian doctrine, the dominant economic
Volume 19, Number 3 (Fall 1999) An Interview with Frank Shostak Frank Shostak is chief economist at Ord Minnett Jardine Fleming, Sydney, Australia, one of the largest brokerage houses in that country, and serves on the editorial board of The Quarterly Journal of Austrian Economics . He received his bachelor’s degree from Hebrew University,
In the 30’s and 40’s when the world was young and naive, Freud and his fellow psychotherapists had legions of followers. Theories of human behavior flourished like mosquitos on Summer nights. If we could just find the causal factors, human behavior would be as predictable as the union of hydrogen and oxygen producing water. One mainstream theory
Our town council, who loves taxes like my cat loves cream is talking about a sales tax increase: a frequent subject of their deliberations. Only a miniscule addition they say. Pennies. Who’ll miss a 5 penny penalty on a 5 dollar purchase. We should line up to give our political servants this minor increase. Infinitestimal, a painless gift to the
Now that Alan Greenspan is no longer the Fed chairman, some financial commentators are daring to suggest that perhaps the present financial crisis is the result of the extremely low interest rate policy of Greenspan’s Fed between December 2000 to June 2004 that fueled the housing bubble. Greenspan denies it on grounds that the Fed has no control
Orders for US non-military capital goods excluding aircraft rose by 0.6 percent in August after a 0.2 percent decline in July to stand at $73.2 billion. Observe that after closing at $48 billion in May 2009, capital goods orders have been trending up. Most commentators regard this strengthening as evidence that companies are investing both in the
Last Tuesday, January 22, 2008, the US central bank lowered its federal funds rate target by a hefty 0.75% to 3.5%. The panicky decision to lower the fed funds rate target was made ahead of the Fed’s meeting at the end of this month. Last Tuesday’s cut by the Fed was the largest nonscheduled interest-rate cut in more than 20 years. Let us say that
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.
