Steve Hanke, professor of economics at Johns Hopkins and head of Cato’s Troubled Currencies Projects, is an Austrian—but he’s an Austrian who looks at markets first and foremost. He also thinks QE was the right thing for the Fed to do in 2008, Austrians are all wrong to focus on the Fed’s balance sheet instead of the M4 “broad money” supply, and
Steve Hanke is a member of the Editorial Board of the Quarterly Journal of Austrian Economics and professor of economics at Johns Hopkins. Writing in the Wall Street Journal (April 28, 1999), he tells the remarkable story of the Yugoslavian hyper inflation. Professor Hanke will also be speaking at the Mises Institute conference on “Austrian
As the U.S. confronts a new crisis, the opportunists are once again playing the system and exploiting it for their own ends. Much of the growth of government in the U.S. and elsewhere occurs as a direct or indirect result of national emergencies such as wars and economic depressions. Laws are enacted, bureaus are created, and budgets are enlarged.
Bashing the Japanese has become a popular American, if not international, sport. The objective is to fabricate “facts” and use them to demonstrate how Japan’s international trade policies create economic disruption that warrants retaliation. Although accomplished players employ a variety of techniques to score game”winning points, one that usually
The Free Market 3, no. 4 (April 1986) Europe’s economic decline is the result of its propensity to nationalize private enterprises. In Europe, nationalized enterprises produce everything from pots and pans to cars and trucks. They even run hotel chains. The magnitude of this phenomenon is revealed in the figures for the public sector’s share of
On July 1st, Andrés Manuel López Obrador (AMLO) won Mexico’s presidential election in a landslide. He pulled in a whopping 53% of the vote. This left the candidate from the governing Institutional Revolutionary Party (PRI), José Antonio Meade, in the dust, with a third place finish and only 16% of the vote. Ricardo Anaya from the conservative
On Monday morning (April 23, 2018), the Grim Reaper cut down Leland Yeager—a great scholar, collaborator, and friend. I share the sentiments about Leland that have already been expressed by David Gordon , David Henderson , and George Selgin . To fill in the picture, I will recount my first encounter with Leland, which took place in the summer of
The International Monetary Fund (IMF) has done it again. In an attempt to garner some press, the head of the IMF’s Western Hemisphere Department Alejandro Werner forecasted that Venezuela’s annual inflation rate will reach 1,000,000% by year’s end. By my calculations, this inflation forecast implies that the exchange rate will reach 923 million
Last week, the Business Roundtable launched a major attack on property rights, the bedrock of capitalism. In a stunning new mission statement, the Roundtable, which represents nearly 200 of America’s blue-chip companies, downgraded shareholders. According to the Roundtable, the purpose of a corporation will no longer be to conduct business with
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.
