Success of the impact of the Mises Institute in a small anecdote; one well educated convert at a time: Shortly after Mises Daily published my written testimony before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, US House of Representatives “Fractional Reserve Banking and Central Banking as
The W all Street Journal, in a front page article, Household Income Sinks to ‘95 Level , summarizing a Census Bureau report released Wednesday, reports, “The income of the typical U.S. family has fallen to levels last seen in 1995, a long and pernicious slide that likely means it will be a generation before Americans regain the peak income
Regime Uncertainty and Slow Recovery Robert Higgs at the Beacon again reminds us that “anemic investment recovery evinces, at least in part, the prevailing regime uncertainty brought about by the Fed’s and the Bush and Obama administrations’ massive, ill-advised, and counter-productive interventions in the economy during the past five years.”
U. S. Monetary Policy, during and since the economic slowdown and financial crisis, has been criticized by non-Austrian economists such as John B. Taylor as a mondustrial policy and as a movement from central banking to central planning by John H. Cochrane. Austrians have long viewed central banking and monetary policy as financial central
A commentator on my recent daily article, “ Not Enough Inflation ,” asked, “John (and I really hope you answer this question), Why is no one dismissing the “concept” of full-employment as utter nonsense? Doesn’t that give Krugman and his ilk a route to deceive people while sounding economically profound? I see the use of full employment as a goal
While it is important that attention be paid to the slow recovery and to “ What is holding the economy back ,” the two most recent boom-bust episodes should have more clearly focused attention of economists on the need for significant monetary reform. The major goal of reform should the replacement of a central bank controlled fiat monetary regime
Peter Boettke has an excellent commentary over at Coordination Problem , “Is This How the Myth of the Laissez Faire Herbert Hoover Was Invented?”. He concludes, “Herbert Hoover was as much of a laissez faire president as Barack Obama has been or the leaders in Europe have been. From a free market perspective, the steps taken since 2007 have turned
On target commentary on recent GDP numbers by Shawn Ritenour. As long as investment stays weak, job growth will be weak. Foundations of Economics: U.S. Economy Grows at 2%? . More detailed discussion is here . For data on the relationship between real gross private domestic private investment and employment see below (HT to Danny Sanchez).
Today the Mises Institute faculty provide excellent responses to Paul Krugman and his query re Austrian economics, MMMF, and financial intermediation. But even legitimate intermediation can be a source for bad policy. Re MMMF and the past crisis see some interesting commentary by Garett Jones at
My colleague at Metro State, Alex Padilla, provides solid commentary (on-line Denver Post ) on a Colorado ballot issue, amendment 64, to decriminalize marijuana in Colorado. Nicely done Alex. However as a small quibble from someone who has written on separating school and state, I am not sure that the measure “dedicates $40 million in revenue to
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.