The government created the flood —written in 1999 about a different (but similar) flood. “Ignoring science and experience, military engineers consistently marched to the tune of the “levees-only theory,” which in practice requires a huge capital and maintenance expense to build and maintain these ever-higher earth- and stoneworks to hold back the
The Huntsville Times was prompted by Bill Gates’s good comments on education to interview others on the topic, and I was among them. Note the person quoted at the end of the piece, who suggests that the solution to the public school problem is for the government to get the kids earlier (age 3) and teach them longer. The story: Virtual classroom is
In this H-net review , our book Tariffs, Blockades, and Inflation: The Economics of the Civil War , is both attacked (no surprising) and recommended (all to the good): In short, Tariffs, Blockades, and Inflation lacks historical perspective. However, I do not believe this comment will offend the authors. They show repeated contempt for historians
The purpose of this paper is to show how the “system” works, why it generates bubbles, why they eventually burst, and the macroeconomic effects of bubbles. Here we apply the economic understanding of bubbles derived from the Austrian business cycle theory (ABC theory) to the current case of the housing bubble and show that this aspect of the
Dan Klein and Charlotta Stern have recently published an article in PUBLIC CHOICE that surveys the views of economists from the American Economic Association. I’ve seen similar studies in the past but it never ceases to amaze me. Most economists surveyed supported anti-discrimination laws, environmental protection laws, workplace safety and FDA
This piece from Bloomberg , which quotes me from here on the skyscraper as business cycle indicator, was reprinted in many outlets overnight, including the International Herald
The ball game is a bore, so I switch to C-Span. There’s a bunch of serious guys sitting behind a long, curved desk. I recognize one of them — it’s Arlen Spector. He faces another bunch of guys and gals who are chatting, minutely inspecting the wood paneling of the room, fiddling with their ties. One of the guys is talking — reciting is more
You Austrians have it all wrong. Bubbles are not caused by inflation. They are caused by increases in the money supply. Just take a look at this: Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms By Bordo and Wheelock. “Two booms stand out in terms of their length and rate of increase in market prices - the booms of
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.
