Sluggish Economy Takes Toll on Government Jobs (USAToday): “Government employment at all levels fell by 10,000 in July — the fifth-straight monthly decline, the Labor Department said Friday. The number of government jobs has fallen by 115,000 since February.”
Needy local, state governments tack more taxes onto travelers (USA Today): Travelers face higher taxes as more state and local governments turn to out-of-towners to ease their budget troubles. In the past two months, at least four states have adopted taxes on lodging, meals or car rentals, and several cities are considering them.
The Price of Tariffs (WSJ): “What do apples, pears, quinces, rice, T-shirts, trousers, bib overalls, blankets, stainless steel products, doors, men’s suits, windows, drums, cans and ink-jet printers have in common? They are all part of a much longer list of U.S. products that currently sell well in Europe but won’t in the future if they are
Greenspan: Further Interest Rate Cuts Possible (CNN.com): “While some question whether further rate cuts would be effective, Greenspan said the central bank has studied the issue and decided that they would. But he also conceded that low rates so far have not lifted business activity as much as they might have in the
Internet Sales Tax Effort May Be Dead for 2003 (Washington Post): “Three dozen states seeking congressional approval for their plan to tax all Internet sales may have missed their chance this year. Two key congressional panels today signalled that they are not willing to hitch the online sales tax issue to a planned extension of the Internet tax
The newest Monetary Trends is out (August) from the St. Louis Fed. It shows that June was yet another busy month for the printing presses. June 2003 (percent change at an annual rate) M1: +13.30% MZM: +14.08% M2: +9.26% M3: +8.01% May 2003 (percent change at an annual rate) M1: +20.23% MZM: +14.58% M2: +17.58% M3: +13.05%
The National Bureau of Economic Research says in its new release that “a trough in business activity occurred in the U.S. economy in November 2001. The trough marks the end of the recession that began in March 2001 and the beginning of an expansion. The recession lasted 8 months, which is slightly less than average for recessions since World War
This piece from the St. Louis Fed argues for a price index that adjusts for quality. But the discussion also demonstrates the implausibility of the very idea of a price level. “ Comparing Apples and Oranges .” Posted by Jeffrey
Self-Sufficiency is the Route to Poverty (TechCentralStation.com), quoting Rothbard and Mises: “Here’s a blunt fact: Self-sufficiency is the route to poverty. If we spend all our time growing our own food and fibers, making our own clothes and shelter and tools, there is no time left to accumulate the capital that improves well-being (e.g. medical
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.
