Speaking to the Council on Foreign Relations, President Clinton proposed more spending, regulating, and monetary manipulation as the keys to fixing up the world economy. More ominously, he called for the creation of a new international financial “architecture,” which, he implied, would be a permanent bailout fund for deadbeat governments the world
Losses are an integral part of the capitalist process. But you wouldn’t know it from the way some big boys are treated by the Federal Reserve. It seems that if your losses are big enough, and your connections good enough, you can rely on a permanent line of credit to shield you from the consequences of your mistakes. The new rule is gleaned from
Somehow, someway, it always comes back to the central bank. With economic anxiety growing, trouble in Latin America , frustration at the length of the recession, suspicions that matters are going to get worse before they are better, and, above all, terror that stock prices could fall ever further, Alan Greenspan is letting it be known that rate
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.