A Brooklyn bagel shop owner was assessed $1, 650 in fines by a New York City Health Inspector because–get ready for this–poppy and sesame seeds fall to the floor as he makes his bagels. Alex Gormakh, the owner and a recent immigrant from Russia, opened B & B Empire Bagel Cafe in June 2011. Gormakh’s deli passed inspections both before and after he
There was a lively and enlightening discussion this past Monday at NYU’s Colloquium on Market Institutions & Economic Processes (formerly named the Austrian Economics Colloquium), when Peter Klein presented an excerpt from his new book , Organizing Entrepreneurial Judgment , co-authored with Nicolai Foss and published by prestigious Cambridge
Kudos to Bob Murphy for his incisive exposé and demolition of Krugman’s statistical legerdemain in today’s Mises Daily. It is not only an enlightening piece but also a delightful read. I have one small but obtrusive nit to pick with Bob, however. Bob links to a blog post by Steve Horwitz, which he praises as “a good job explaining why Krugman’s
The relentless war against cash payments waged by governments worldwide has perhaps gone furthest in Scandinavia. The ostensible reason given by our rulers for suppressing cash is to keep society safe from terrorists, tax evaders, money launderers, drug cartels and sundry other villains, real or imagined. But the actual aim of the recent flood of
The “fiscal multiplier” is one of the basic building blocks of Keynesian economics and the centerpiece of modern macroeconomic analysis of the effects of fiscal policy. Contrary to the impression given by Paul Krugman and other proponents of fiscal stimulus, however, there is no clear consensus among economists regarding the size of the
Recently a friend asked for recommendations of books suitable for instructing high school students in Austrian economics. He was already familiar with Henry Hazlitt’s classic Economics in One Lesson and David Gordon’s scintillating primer An Introduction to Economic Reasoning . I recommended two additional books for his consideration. 1. Jim Cox,
It turns out that Friedrich Hayek did indeed apply for Social Security payments at the urging of billionaire Charles Koch. Robert Wenzel verifies this via a FOIA request and defends Hayek’s decision to do so.
Mises Institute supporter and entrepreneur Bob Luddy tells Fox Business News about the adverse effects of the Affordable Health Care Act on small business owners as well as their employees and customers. This must-see video provides a great illustration of the unintended and destructive consequences of government regulation and is perfect for use
Tax loopholes are universally denounced across the political spectrum. Democrats revile them as egregious giveaways to the “rich” that should all be tightly sealed up in the interests of “revenue enhancement” for deficit reduction, infrastructure investment, propping up collapsing entitlement programs, etc. Republicans condemn them as major
Numerous studies have found that government spending multipliers have a very low value. Indeed one recent study found that in a country with characteristics like the U.S., it was significantly negative. Yet Keynesian economists are more desperate than ever to show that government spending can be effective in promoting economic recovery. Last week
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.
