Top Euro Banker, Cleared of Scandal, Can Now Head ECB (BBC): [Jean Clauide] Trichet is a highly-respected central banker, and few doubt that he is qualified for the job of ECB president which includes setting interest rates for the 12 nation eurozone. ... “With Duisenberg gone, we’ll hear more talk about growth and less about inflation,” said
The new Monetary Trends published by the St. Louis Fed includes some revealing data on May’s money creation rates (percentage change at annual rates). See page 18. M1: +20.16% MZM: +14.52% M2: +17.49% M3: +12.96%
Jerry Muller’s Mind and the Market reviewed in Foreign Affairs .”The value of the book lies less in its contribution to the literature on any particular individual than in its gathering together in one place of a wealth of information on figures from Burke, Smith, and Voltaire to Schumpeter, Keynes, and Hayek. Muller’s masterful sketches of
Rate Cut Looking Like a Sure Thing (Washington Post): “Federal Reserve officials, concerned there is still no sign of the solid pickup in U.S. economic growth needed to foreclose the possibility of deflation, appear certain to cut their target for overnight interest rates next week.”
If you are curious about the Austrian theory of time preference and the determination of interest rates, see the new dissertation by Robert Murphy of New York University, now online: Unanticipated Intertemporal Change in Theories of Interest . Posted by Jeffrey
The Cassini Division by Ken MacLeod (Slashdot): “MacLeod himself is a Trotskyist libertarian, a label which gives some feel for his eclecticism, and he depicts very different political systems working reasonably well -- though he often verges on parody. There are also plenty of little jokes, such as a statue of Mises in the Central Planning
To add to Mark’s point, “ The Tech Rebound that Isn’t Quite “ (NY): “Instead of leading the economy, as it did in the 1990’s, the technology sector is being pulled along with it, behaving more like other industries and less like a business that operates by its own ‘new economy’ rules. And so it may be that Wall Street has gotten ahead of itself,
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.
