In his response to my article “ The Anatomy of Deflation ,” Frank Shostak writes: “The problem with this [Reisman’s ] way of thinking is that deflation is presented as an independent destructive force. However, deflation doesn’t have a life of its own - it is always dependent on prior monetary inflation. Consequently, it is not possible to reach
India’s Poor Bet Precious Sums on Private Schools (New York Times): “In this democracy of more than one billion people, an educational revolution is under way, its telltale signs the small children everywhere in uniforms and ties. From slums to villages, the march to private education, once reserved for the elite, is on.”
The Free Market 21, no. 4 (April 2003) The New York Times recently ran a three-part series on a string of tragic industrial accidents at facilities owned by McWane Inc., a large producer of sewer and water pipe based in Alabama. The series describes nine apparently needless and sometimes especially gruesome deaths, as well as several horrendous
The New York Times recently ran a three-part series on a string of tragic industrial accidents at facilities owned by McWane Inc., a large producer of sewer and water pipe based in Alabama. The series describes nine apparently needless and sometimes especially gruesome deaths, as well as several horrendous injuries suffered by workmen. All of
Fears of deflation, prominent a month or two ago, are now rapidly subsiding, and soon may disappear entirely. Nevertheless, deflation is still a subject about which it is important to have a correct understanding. Deflation is usually thought to be a synonym for falling prices. There could be no more serious error in all of economics. Calling
Interventionism is any act of government that both represents the initiation of physical force and, at the same time, stops short of imposing an all-round socialist economic system, in which production takes place entirely, or at least characteristically, at the initiative of the government. In contrast to socialism, interventionism is a system in
People who are ignorant of the writings of Ludwig von Mises are unaware of the role of credit expansion in creating recessions and depressions. Not knowing the actual cause of such calamities, they turn to false and often absurd explanations, such as the doctrine of a general overproduction, and end up blaming increased production and supply,
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.