Posted today in the NYTimes : “China lent Russia $6 billion late last year to enable Rosneft, which is owned by the Russian government, to buy Yukos’s biggest oil-producing unit, Kremlin officials said
William Graham Sumner: Against Democracy, Plutocracy, and Imperialism, by H.A. Scott Trask . Sumner was a prolific and astute historian of the early American republic whose work is informed by both his classical liberalism and his understanding of economics. Although not an anarchist, Sumner argued that even the best governments posed a
As was noted by Roderick Long , Ayn Rand used to hold Mises to be the best economist and promote his work , as was reflected in her ideal curriculum of “Aristotle in philosophy, von Mises in economics, Montessori in education, Hugo in literature”. Today though, the orthodox randian movement represented by ARI has abandoned Mises, even though they
Buried inside this BBC News story about the problems associated with illegal immigration in Malaysia is the story of the effects of Malaysia’s affirmative action program. Like in all East Asian countries except for Japan and Korea, Malaysia’s business community is dominated by ethnic Chinese. In the purported intention to lessen ethnic tension and
What’s next, Usama bin Laden the beer guzzling pork eater? -:) After having increased domestic discretionary spending faster than any president since Nixon and LBJ, Bush now puts forward a budget which would increase it slower than the rate of inflation, which is to say reduce it in real terms. After having previously actively pushed for sharp
The European Union is blackmailing Thailand to buy 6 aircrafts from Airbus for €1.3 billion ( roughly $2.4 billion) or face steep tariffs on its fish and prawn exports. A few weeks ago they also imposed high tariffs on exports of cumarin in order to protect a french company who also manufactures cumarin. Now after the tsunami even the EU
As some of you remember, back in late last year, there was a great fuss from certain people about how important it was for the “pro-freedom” candidate Victor Yushchenko to win the Ukrainian election. However, it turned out that Yushchenko was more interested in socialism than freedom . Not coincidentally, growth have now slumped to a mere 1.1% in
For months I have been pointing out ( See also this post )that the widespread perception that the European Central Bank (the ECB) has pursued a “tight monetary policy” is a myth. Later Paul Kasriel of Northern Trust also pointed this out. But now for the first time, a major “mainstream” publication, The Economist , has rejected the myth. In this
In a previous blog post I highlighted the absurd pretending game by leading Fed officials that interest rates are somehow something which are not affected by Fed policy, even though Fed policy like focuse on the setting of interest rates. The latest Fed official to do this are William Poole . In a panel discussion by the Western Economic
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.
