Mises Search

I use quotation marks because this title is not mine: it is Tony Hayward’s. While launching British Petroleum’s Statistical Review of World Energy , [1] his Chief Executive gave a most interesting explanation of (one of) the reason(s) the price of oil went up (indeed!) in the past months and, consequently, of how this underlying problem could and

Georges Bush’s recent speech in defense of his bailout plan was quite a tour de force . Indeed, it managed to explain the pending recession of the US economy by a previous situation of “easy credit” without mentioning the monstrously inflationist policy of the Federal Reserve — which reached its climax in 2003 and 2004, when it lent dollars at a

For the enemies of freedom in general , and of the economy in particular, the recent crash has been the occasion to re-assert that markets in general, and financial ones in particular, are inherently unstable — and thus dangerous — because they are driven by irrational behaviors such as the “mimetic effect,” which, according to many experts and

“One in eight Americans is struggling with hunger.” If you haven’t heard that line, then you must not have a TV. And if you haven’t read it, even if you can’t be bothered to open a newspaper, then you must live in some very, very, remote part of the country. “One in eight Americans is struggling with hunger.” Everybody knows that. And everybody is

According to Obama’s leading economic adviser, the current double-digit unemployment rate is obviously due to a “shortfall in aggregate demand.” Indeed, former UC Berkeley professor Christina Romer even told the Wall Street Journal that, until her chief of staff advised her not to, she intended to title a recent speech “It’s Aggregate Demand,