Greenspan’s assets unhurt by 2002 bear ( CNN.com ): “Federal Reserve Chairman Alan Greenspan’s conservative approach to investing kept his nest egg secure in 2002, a year when many Americans in his income bracket lost money. In 2002, the Dow Jones industrial average lost 17 percent — its worst decline since 1977. But the central bank chief’s own
In his weekly overview for Man Financial, Frank Shostak writes: “According to the National Bureau of Economic Research (NBER) the recession that began in March 2001 ended eight months later in November 2001. Our analysis, however, shows that the cyclical downturn had begun much earlier. Also, the NBER has forgotten to say that since Q3 2002 the
A Blog for Everyone (BBC): “At its simplest a blog is a web-based, regularly updated journal. They also typically have lots of web links to other blogs they like or share their world view. Some are updated many times a day, some less frequently and some only when their owner feels they have something to say. Some are about a blogger’s life, others
A reader sends this link to Stephen Roach of Morgan Stanley , who argues: “A lopsided world economy has never been so dependent on one growth engine — the United States . Over the seven-year 1995 to 2002 interval, revised figures now indicate that the US accounted for fully 96% of the cumulative increase in world GDP (at market exchange rates);
Interesting letter in response to route-to-poverty blog : I agree with the argument that division of labor is desirable, however, this is not a black or white, or an all or nothing issue as Mr. Downen tries to show. Where does it say that nobody should be self-sufficient and that all our food ought to come from the store? What if some people would
Some Big Companies Hire Private Ambulances (NYT): “A growing number of big companies in Manhattan are bypassing the 911 system for their medical emergencies, and signing up instead with private ambulance services that hold out the promise — explicitly or not — of better, faster service. The ambulances run by these services do not answer 911 calls,
A wonderful piece on texbook writing from the Chronicle of Higher Education : “To win a contract, you must create a dazzling book proposal -- a 10-page document that demonstrates your expertise, your ability to write simultaneously to a Harvard Ph.D. and the pimply kid slinging burgers at Wendy’s, your skill in smearing a patina of innovation over
How Much Does it Cost Not to Go to the Gym? (NYTimes): “Economists describe this as ‘time-inconsistent behavior.’ When the benefits of an action are far in the future and the costs are immediate, people do not give the benefits much weight. Tomorrow’s buff body loses out to the dread of today’s workout, and a reduced risk of cancer is obscured by
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.
