In the wake of the devastation caused by hurricane Katrina there have been a lot of people who has tried to deny the beneficial effects of this by quoting the classic essay “What is seen and what is not seen”. But that’s wrong, we shouldn’t listen to Bastiat,after all he’s French (FRENCH!!!!). And had Americans listened to the French then the U.S.
Today’s NRO-column from John Tamny is probably the most error-filled since at least Paul Krugman’s Toyota column . First he claims that somehow the west have become dramatically less socialist than it was in the 1940s. Somehow he seems to have missed the fact that in every western country since then the welfare state have been greatly expanded. In
While virtually everyone in the leading economic establishment were positive about today’s currency reform in China, there was kind of a mixed message about whether this was a step in the direction of more or less market economy. In the BBC Business News Story on the issue White House spokesman Scott McClellan said: “We are encouraged by China’s
So yesterday it finally happened:- the yuan was revalued , after years of pressure from particularly the U.S. government but also the EU and Japan. However the move was much smaller than expected, a mere 2.1%. This will hardly satisfy Senators Smoot Schumer and Hawley Graham ( as Larry Kudlow likes to call them ). Contrary to what some people seem
Today’s Paul Krugman column is quite interesting, but not because it presents good arguments, but because it contains so many fallacies. His entire column makes a big deal about a decision by Toyota to build a plant in Canada, which he claims proves the superiority of Canada’s somewhat more extensive welfare state compared to the United States.
I recently criticized The Economist for its very confused Keynesian analysis of monetary policy in Europe . Its analysis of China’s impact on the global economy in its latest issue is however a lot more impressive. Apart from a few minor details, its provides a interesting and correct analysis of the subject. Some of the more interesting
In the latest money supply report , the M3 measure of money supply surpassed the psychological barrier of $10 trillion. It is up 7.1% over the latest year (52 weeks) and at an annual rate of 11.2% over the latest 13 weeks. Meanwhile, in a completely unrelated story, the consumer price index posted its biggest monthly (+1.2%) gain since 1980 and
Prestopundit (aka Greg Ransom) had a funny word to describe, based on a article by Will Wilkinson , how several left-liberal pundits including Paul Krugman , Maureen Dowd and Harold Meyerson are describing President Bush: Murray Rothbard with a Texas accent . Krugman decried the alleged “ideological hostility to the very idea of using government”
Interesting article in The Economist on how inflationary pressures are increasing in America and elsewhere. Actually I would however rather describe it as monetary inflation increasingly taking the form of consumer price inflation, but let’s not be picky. As the article points out, the year to year increase in the consumer price index is expected
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.
