I have just heard, on the news, that we are lucky that a hurricane is headed our way. It seems that economists say that past hurricanes have been good for the economy because they stimulate demand- demand for rebuilding things like broken windows. Better to call them ‘noneconomists’ as Mises might have. Who might they be? Krugman? Anyway, this
Larry Kudlow has greeted the news this week of 7.2% GDP growth with great enthusiasm. He sees a ‘barnburner recovery’ in this data. This, he thinks, is a true recovery. What is the source of this recovery? Capital expenditures rose 11%, up from 8% from the last quarter. A combination of tax cuts and expansionary monetary policy from the fed
The Free Market 21, no. 2 (February 2003) Proponents of markets often note that there is no such thing as a free lunch. The logic of this argument is simple, yet profound. Resources are scarce and all have alternative uses. Any time we consume any good, it comes as an expense to someone. Government does not create, it redistributes. The true costs
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.