Quarterly GDP increased by 2% at an annual rate which means it increased by ½ of 1% for the quarter. Almost ¾ of that growth was the result of building inventories so we are left with about 1/2 % at an annual rate or .14% for the quarter. If the buildup in inventories represents correct entrepreneurial insight regarding better business in the
Congress and the First Lady teamed up to impose the “Healthy, Hungry-Free Kids Act” on school children across the country, but news of unintended consequences abound . You would think that if you were imposing your will on an entire nation of children that you should subject yourself to the same treatment for a year or so as a kind of experiment.
Here : “In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf
From Turkey’s English Daily As the Austrian economists Ludwig von Mises and Friedrich Hayek have amply shown, creating money out of thin air, flooding the economy with cheap credit, and keeping interest rates artificially low – as Western banking systems have been doing more or less continuously for decades, and particularly so in the years
A University of Georgia student passed himself off as a veterinarian. He managed to get a job with a private company, but was quickly discovered and dismissed. He then got a job as a supervisor of meat inspection with the US Department of Agriculture and lasted for four years! The USDA ignored tips that he was a fake and was only dismissed after
The ‘Skyscraper Curse’ strikes again There is often a correlation between financial bubbles bursting and attempts to construct the world’s tallest building, says William Pesek on Bloomberg.com. In 1931, for instance, the Empire State building, designed in the exuberant 1920s, finally opened, “presaging years of gloom”. The Sears Tower was the
What Goes Straight Up? Graphs of economic statistics usually meander across the page like a walk through the forest; others will wiggle up and down with the business cycle like an EKG machine. Only recently have we been confronted with statistics that shoot up vertically, like a lie on a polygraph test. Statistics such as the monetary base and the
When researchers compared the Shanghai Ranking of World Universities to budgetary constraints they found a number of important, but not surprising results. The Shanghai Ranking includes things like the number of patents and Nobel Prize winners a university generates along with citations to faculty publications. Among European universities, those
Quarterly Journal of Austrian Economics 19, no. 1 (Spring 2016): 65–84 ABSTRACT : Central banks have embarked on a transition from relative secrecy to relative transparency over the last two decades. This has led researchers to investigate the ramifications of transparency on important economic outcomes. By and large, the results reported have
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.
