Prime Minister Shinzo Abe of Japan has announced plans to request that Japan’s corporate leaders increase salaries and wages at an upcoming meeting of government, business, and nonprofit leaders in preparation for the spring labor negotiation period, or shunto . That would be the fourth straight year that Mr. Abe has proposed higher wages to
The Opioid epidemic is spreading across the heartland of America. The number of drug overdose deaths from both prescription (e.g., Oxycontin) and black market (e.g., heroin) opiates exceeded 30,000 in 2015. Initial estimates for 2016 indicate yet another new record of deaths. It is such an enormous problem that I taught a special class on it at
On the same day that Attorney General Jeff Sessions announced that he would attempt to revamp the war on drugs, it came to my attention that potentially more important events regarding the war on drugs were taking place in Vermont , the “freedom and unity” state. It would seem that the state legislature in Vermont has voted to eliminate the war on
Fall 1987, Vol. 9, no. 1 AEN Celebrates 10 th Anniversary Some Events of Note Interview with Nobel Laureate James Buchanan Adam Smith Reconsidered by Murray N. Rothbard “Minimum Wage”: A Major Cause of Poverty by W.H. Hutt Rationality in the Public-Debt
The Bernanke-Yellen bubble is impacting many sectors of the economy. Agriculture land, motor vehicles and auto loans, banking, bonds, contemporary art, corporate stocks, higher education and student loans, mergers and acquisitions, ocean shipping and cruise lines, social media, technology, housing, real estate, and land markets have been
Nobel prize winning economist Robert Shiller recently revisited the Housing Bubble in an article published in the New York Times (“How Tales of ‘Flippers’ Led to a Housing Bubble,” May 18, 2017). He is troubled by the lack of consensus on what caused the bubble-bust that left the world mired in the financial crisis. He states: “We need to
Economists have long played semantic games with business cycles. In particular, they try to downplay the significance of the crisis and to obfuscate its cause. First of all, bubbles and economic crises are initially denied and then usually not named until after they end and particular sectors of the economy are revealed to be what Lionel Robbins
It is widely acknowledged that healthcare in the United States is the most expensive in the world. Per capita expenditures are roughly double that of other major economies . Some will argue that you get what you pay for, but the quality of care in the US is usually ranked as mediocre. This combination of high cost and poor performance resulted in
US Attorney General Jeff Sessions recently penned an opinion article in the Washington Post . He wrote that the illegal drug business generates violence and violent crime. True enough. He further noted that violent crime is down by half since the War on Drugs peaked in 1991. Again, this is true. Then he noted that as marijuana laws and federal
Volume 17, No. 4 (Winter 2014) Timothy P. Roth Cheltenham, UK: Edward Elgar, 2014, 192 pages The Federal legislative process has completely broken down, from a deliberate rule-guided process to one that seems completely ad hoc and driven by lobbyists. This trend continues no matter what party is in power. Congress bypasses its own rules, ignores
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.
