I know I’ve read some version of these first two paragraphs several times, even in the last year, and even critiqued one or two previous pieces. It seems nearly inevitable that the New York Times “Week in Review” will begin a story on the week’s economic news with some version of the “end of laissez-faire” thesis, which is always the same: until
We are all very saddened to hear that Professor Sudha Shenoy of the University of Newcastle died yesterday (a blog notice here ). She was a long-time associate of the work of the Mises Institute, and was scheduled to give a week-long series of lectures on F.A. Hayek this fall in our offices. In the last 10 years, she spent many weeks with us,
Here are the headlines from Bloomberg •AIG Plunges After Cut in Credit Rating Jeopardizes Effort to Raise Capital •Overnight Interest Rate Doubles as Banks Hoard Cash on Failure Speculation •Federal Reserve Adds $50 Billion to Money Market, Sending Funds Rate Lower •Barclays Discussing Purchase of Lehman Assets, May Seek Broker-Dealer Unit •Wall
The ADP report on unemployment looks terrible: private sector hiring mostly stagnant overall. Here is the detailed repor t that paints many pretty pictures of what a double dip looks like. Media reports will again speak of unemployment as if it were some kind of ghostly vapor that mysteriously sinks upon an economy, the same way that people used
I don’t often read Paul Krugman but because the NYT was hyping his new column as the most emailed I had to see what was going on. He begins by trashing the S&P for its downgrading of U.S. debt, comparing the rating agency with “young man who kills his parents, then pleads for mercy because he’s an orphan.” Krugman seems to regard the down-rating
It’s not a joke. i should tell the story about my job interview with the fed here in kansas city. they asked me about optimal monetary policy, and hilarity quickly ensued. so they started off asking basic technocratic economic questions”what should the fed do when inflation is increasing?”, “why do bond prices and their yields move in opposite
The employees of the TSA can now be unionized . Public sector unions are a remarkable survivor of day’s of old, which is interesting since the theory of unions is that workers need organized protection against private capital. It happens, however, that unions are most successfully organized from among those living off the taxpayer, and least
I’m looking at employment status of the civilian population by sex and age, not seasonally adjusted , March 2009 to March 2010 Overall: 9.0 to 10.2 Men over 16: 10.6 to 11.8 Men over 20: 9.9 to 11.2 Women over 16: 7.3 to 8.3 Women over 20: 6.9 to 7.1 Both sexes 16-19: 21.5 to 22.0 It’s a heck of a time to have raised minimum wages three years in a
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.
