There is not much that can be added to what has already been said about the proposal for the Treasury to mint a $1 trillion platinum coin to circumvent the debt limit, an absurd and gimmicky fiscal restraint which politicians impose on themselves and routinely honor in the breach. We may however usefully consider here some of the curious
Now that the Treasury has ruled out the scheme of minting a $1 trillion platinum coin as a means to circumvent the gimmicky debt limit, it is instructive to take a closeer. For the scheme could have metamorphosed into far more than one-time political trick to avoid the debt limit. In fact it was an implicit challenge to the much vaunted and
Writes Murray Sabrin in the Politicker blog of The New York Observer: This may be asking too much, but before the summer is over Chris Christie needs to read a few books including the short monograph by Murray Rothbard, Wall Street, Banks, and American Foreign Policy , which is available here for free, http://mises.org/document/1223 The book
Volume 11, No. 3 and 4 (2008) Mises, Friedrich Hayek, and Murray Rothbard were the main architects of the distinctly Austrian theory of production as it exists today. All three conceived the entrepreneurial function in the actual market economy as presupposing the ownership of property, specifically capital. Yet, many, if not most, contemporary
Despite hysterical warnings about the grave evils of deflation from central bankers, mainstream economists, and financial pundits, we are reminded on a daily basis of the Austrian insight that falling prices are a boon to consumers and a manifestation of growing economic prosperity. Indeed, as I have argued elsewhere , a secular decline in overall
One of the worst effects of modern Keynesian economics is that its aggregate demand (total spending) approach to output and employment provides a pseudo-scientific justification for the central fallacy of mercantilism, which dates back to the 16th century. According to this ancient myth a deficit in a nation’s balance of payments results in
Volume 16, Number 3 (Fall 1996) An Interview with Joseph T. Salerno Joseph Salerno, professor of economics at Pace University, is a leading figure in today’s growing Austrian School. He has been a pioneer in many fields, including monetary theory, comparative systems, the history of thought, and the economics of war. After the death of Murray N.
There exists today in Anglo-American economics a veritable “conspiracy of silence” regarding the works and achievements of the French Liberal School of Economics. This is at once a sad commentary on the state of disinterested historical scholarship in the economics profession and a resounding confirmation of Thomas Kuhn’s theory of scientific
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.
