Since the Second World War, the deep-seated enmity between France and Germany, whose governments waged war against each other thrice in less than a century, has been exhausted. Restrained from resuming their fratricidal tendencies by the bonds of the corporatist European Coal and Steel Community, eventually superseded by the European Union (EU),
About 23 years ago, reluctant Republican legislators acquiesced to increasing the statutory ceiling of the federal debt (then $1 trillion) at the behest of President Ronald Reagan, who assured congressmen that the measure would be a one-time event. The pledge has of course been broken repeatedly; America’s sovereign debt stood at $6.9 trillion as
For a government as vast and powerful as America’s, $60 billion is hardly a substantial amount of money, considering it boasts a large populace and economy to plunder; such a sum is a mere three-fifths of what the U.S. Army alone requested for fiscal year 2005. In the case of the Philippines, an erstwhile vassal of America, $60bn is an exorbitant
It is a sign of the times when the Chinese government, which was just granted market economy status by debt-laden Argentina, takes America to task over its gaping budget and trade deficits. When interviewed by the Financial Times , published Nov. 22, Li Ruogu, deputy governor of the People’s Bank of China, admonished Washington not to blame
As a precondition to joining the European currency, member states had to abide by quantitative fiscal criteria, explained below, sharply limiting their room to maneuver. Since the adoption of the fiscal pact and the launch of the euro, many countries chose to flaunt it, to the chagrin of others that steadfastly adhered to it. This article explains
“The destiny of this country was decided long ago and nothing and no one can intimidate or threaten us.” Fidel Castro’ remarks last year leave little doubt that he is willing to go any length to preserve the socialist ideology of Cuba’s 1959 revolution. The latest evidence of Castro’s firm approach to maintaining the island’s revolutionary credo
When President Bush released his 2006 budget proposal, he cast himself as a measured and decisive figure bent on taming the government’s profligate spending and raging deficits. When one peers beyond the stage-managed façade, however, what one finds is that Bush earns the dubious distinction of being one of the biggest big spenders of all time.
The second anniversary of America’s expedition into Iraq passed with relatively scant fanfare. Since hostilities in Mesopotamia commenced, thousands of American and Iraqi casualties have been tallied. Every month Washington spends billion of dollars on counterinsurgency and rebuilding efforts in Iraq and further afield, which swells the nation’s
Leaders of European Union member states have been reeling from the double rejection of the proposed European Constitution by two of the six founding members, the Netherlands and France. Given a chance to express their opinion on “ever closer union,” for the first time in over a decade and ever, respectively, French and Dutch voters spurned the
In recent weeks tens of millions of trousers, dresses, brassieres, T-Shirts and other categories of clothing and textiles have amassed at European ports, prohibited from reaching retail outlets by customs officials. The consumer goods were held in abeyance because of an ill-conceived trade agreement limiting exports to the European marketplace
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.